In this chapter we question whether current conceptualizations of global leadership competencies adequately address the dynamic and complex nature of the multinational team (MNT) context. We report findings from a study that incorporated the perspectives of MNT leaders as well as members on MNT leadership. We asked MNT leaders and their team members to identify the competencies that they believe are needed for effectively managing MNTs. The findings from this study promise to enhance our understanding about the specific nature of the MNT context, as viewed by the two parties that are at the frontline of multinational teamwork: team members and leaders. We use this dual perspective to clarify global competencies that MNT leaders may need to develop in themselves, and to propose a framework that may assist multinational organizations in identifying, rewarding, and developing MNT leaders.