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Date
08 April 2016

Culture in Banking Panel Discussion

A panel discussion hosted by Adam Epstein, Partner in the Dispute Resolution team.

Transcript

Bank Culture.

In credit or in default?

Mishcon de Reya

Panel

Mark Steward
Director of Enforcement & Market Oversight, FCA

Julie Harding
HR Director, The Co-Operative Bank

Paul Chisnall
Executive Director of Financial Policy & Operations, BAA

Greg Campbell
Partner, Mishcon de Reya

Chaired by

Adam Epstein
Partner, Mishcon de Reya

 

Adam Epstein
Partner, Mishcon de Reya

The idea behind tonight’s event is we’ve got a large number of people attending who are going to discuss where they are at the moment in their cultural change programmes, where the cultural change is important and how they see cultural change being imbedded within different banks and so we have got people from the banks, we’ve got advisors and we’ve got a tremendous panel speaking about it from a wide variety of perspectives

Greg Campbell
Partner, Mishcon de Reya

It would be a successful evening if we take away an understanding of what everybody means by culture.  I think it is a word that gets thrown around a lot without people actually knowing what they mean by it.  I think if we can agree a common language then we are in a better place to move forward and agree a common culture that is right for the industry.

I think good culture leads naturally to good financial performance. Culture doesn’t just mean doing good things by the environment or that equivalent.  It also means doing the right things by customers, doing the right things by your colleagues and those things will lead to better financial performance and when you are setting out what your businesses culture is, you should be focussing on the fact that profit is an important element of your business.

Paul Chisnall
Executive Director of Financial Policy & Operations, BAA

If we look at the changes that are taking place in the industry, there is a very real attempt and there will be a very real attempt to be much more customer orientated; I think some of that was lost and actually the answer to what is good culture is simply providing the customer the service they need, in the way that they need them and if you do that then actually you won’t be far from achieving a good culture.

Matt Hancock
Legal Director, Mishcon de Reya

I think that culture is important clearly but I don’t think it is a panacea.  I don’t think it is a silver bullet and I think there is a risk that it will just become a sort of a mantra to be trotted out, we are worried about culture, what’s your culture like?  You know, I am in tune with the culture of the bank or the firm.  It needs to mean something and how you make it stick as it were and how you make it help people on a day-to-day basis I think is really, is really where I would like to see some more thinking and I guess, where we will, where, as I say I feel that my clients in the future will come a cropper.

Mishcon de Reya