4 July 2017
On 21 March 2017, the Banking Standards Board organised a conference hosted by the Bank of England on Worthy of Trust? Law, Ethics and Culture in Banking". The event brought together three eminent speakers - Governor of the Bank of England Mark Carney, President and Chief Executive Officer of the Federal Reserve Bank of New York William C Dudley and the Rt. Hon. the Lord Thomas of Cwmgiedd, Lord Chief Justice of England and Wales - to explore an issue of shared importance: the relationship between law, ethics and culture in creating a banking sector that is worthy of trust. A podcast of the event can be found here.
Ahead of that conference, Dr Costanza Russo, Senior Lecturer in International Banking Law and Business Ethics at Queen Mary University of London (QMUL), was invited to produce a short piece on the relationship between Law, Ethics and Culture in Banking. Dr Russo stressed the importance of creating a culture of ethics within banking organisations, the need for the relevant organisations to work in cooperation rather than in silos, and highlighted the role the BSB can play also in improving banks' corporate governance. Her analysis is available here.