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According to some key actors in Iceland’s financial sector, in the wake of the financial crisis, Icelandic financial institutions consciously tried to build trust and a positive new image through, among other things, the visible presence of women on their corporate boards and management teams. By strict adherence to gender quota legislation and through improved corporate governance practices and much stricter control and monitoring, the financial sector sent signals of change to various stakeholders. Now 10 years on, the re-establishment of trust is still a work in progress.

The process of global leadership development remains a challenging theoretical problem in the field of global leadership. To help address this issue, we develop a theoretically grounded process model of global leadership competency development that addresses the dynamics involved in the adoption and enhancement of intercultural competencies associated with global leadership. We do this by integrating theoretical constructs associated with competency development from the adult learning and development, cognitive-behavior therapy, global leadership development, leadership development, organizational development, and social learning theory literatures. The resulting model includes testable propositions – a critical feature that existing global leadership development process models currently lack. Our chapter concludes with a discussion of the implications of the model for future research and practice.