Winner: Michael Sherwood & Richard Gnodde, co-CEOs Goldman Sachs Intl.

It's been a tough few months for Goldman Sachs International's joint CEOs, Michael Sherwood and Richard Gnodde, who run the investment bank's Europe, Middle East and Africa division from London. With a $1 billion fraud prosecution by US regulators in April and accusations that the Wall Street giant acted against the interests of clients, Sherwood and Gnodde have been holed up reassuring clients, investors and the public of the financial company's probity.

It is a testament, therefore, to their leadership and the strong culture of the firm they lead that Sherwood and Gnodde walk away with HR magazine's award for Most People Focused CEO in the private sector. For, despite the damage to the firm's reputation over the past months, its employees rate their leaders the best when it comes to living the company's values, being inspirational and giving them confidence.

The shortlist for this category was developed in conjunction with workplace engagement specialist Best Companies, using its database of more than 30,000 employees. Firms that employ 5,000 plus people were eligible for consideration.

The ranking is based on two considerations: those who scored highest in staff surveys on three questions related to the leader directly and those who scored best in three questions related to senior management. In the former, employees were asked about their faith in their leader, whether they were inspired by that person and whether they run the organisation on sound moral principles. In the latter they were asked to consider whether the senior management team listened rather than told them what to do, whether they truly lived the values of the company and whether the employee had confidence in the leadership skills of the senior management team.

Goldman Sachs is marked out for its leaders' active dialogue with people across the firm: roughly 35% of senior leadership's time is spent addressing internal audiences. Sherwood and Gnodde help set the tone and uphold the strong culture. They ensure staff are engaged and understand the firm's strategy, create a culture of transparency and ensure employees are motivated.

Sherwood and Gnodde are among those leaders who participate in cross-divisional and global activities in order to break down silos and encourage teamwork. It is initiatives such as these that show why they merit HR's top CEO award.

FINALISTS

Raymond Joabar, senior vice president/country manager, American Express Services Europe UK

Gerard Nieuwenhuys, managing director, Sytner Group

David Niven, MD - UK & USA, Nando's

Ian Powell, chairman and senior partner, PricewaterhouseCoopers