The research investigates the role of transformationalleadership in enhancing employee engagement during organizational change, and the individual and sequential mediating role of valence and trust in leadership. Based on cross‐sectional data from a survey of employees in Bangladesh's banking sector, the study uses structural equation modeling to test four hypotheses related to employee engagement and organizational change. The results showed that transformational leadership positively associated with employee engagement, and that both valence and trust in leadership individually and sequentially mediate the relationship between transformational leadership and employee engagement. The research contributes to the areas of organizational change management and human resource management by clarifying the impact of transformational leadership on employee engagement. It also provides practical guidance on improving employee engagement in Bangladesh's banking sector, and elsewhere, during periods of organizational change.