Deep Purpose

David Vélez is a founder of the world’s biggest digital bank: Nubank in Brazil. Vélez tells Professor Ranjay Gulati that he started his remarkable business career as a boy – and with an unusual investment. Vélez describes how having a deep purpose helped his team defy the critics and build Nubank from scratch. Nubank’s core mission led it to outperform the competition. And deep purpose is prompting Vélez, a multi-billionaire, to give away his wealth in his lifetime.

Temasek Holdings is an investment firm owned by the Government of Singapore with a diverse, global portfolio. It owns energy companies and a major airline. It’s also committed to a green future, which generates unique challenges for the firm. CEO Dilhan Pillay says the Temasek’s ongoing “purpose journey” helps it meet those challenges, delivering real financial performance while navigating the tricky tides of current events.

In South Africa, CEO Sim Tshabalala of Standard Bank Group worked his way up from the country’s largest Black township to lead one of Africa’s largest financial institutions. It might seem like an improbable trajectory: from the “dusty streets of Soweto” to the executive suite of a highly influential business. In this episode, Tshabalala explains how hewing to a deep purpose guides his bank to do the right thing for shareholders and society – and how purpose gives his own life a clear direction.

Arcos Dorados (Golden Arches in English) is the world’s largest independent McDonald’s franchisee. It has restaurants across Latin America and the Caribbean. Founder Woods Staton says purpose is a work in progress for his company. But having core principles helped Arcos Dorados keep the doors open – with minimal layoffs – during the COVID-19 pandemic. In this candid conversation, Staton describes his lifelong mission to prove that a highly successful business leader can also be socially responsible.

Mumzworld is the largest online baby store in the Middle East. It was created by Mona Ataya, one of the most influential businesswomen in the region. Ataya is driven to empower women, motivate employees and benefit all of the company’s stakeholders. In this conversation, Ataya recounts the challenges of creating a women-led company in a socially conservative environment. She explains the critical importance of finding talent that aligns with your values to maximize a company’s social and financial performance.