VIEW THE WEBCAST
THURSDAY, NOVEMBER 29, 2018
Time: 10:00am EST | 3:00pm GMT | 4:00pm CET
View the live webcast of the Group of Thirty (G30) Media Briefing on the Group’s latest report, Banking Conduct and Culture: A Permanent Mindset Change.
In November 2017, the Group of Thirty (G30) constituted a working group to study the progress made in the banking industry in recent years in response to calls from the G30 and others for a sustained focus on conduct and culture reform.
Banking Conduct and Culture: A Permanent Mindset Change is the latest in a series of G30 reports on the subject of banking culture and governance. Drawing on interviews with hundreds of industry leaders, the report evaluates progress made on culture in recent years and identifies areas for further improvement in the journey for lasting behavioral changes.
On November 29, 2018, the G30 released the report of the study's results and convened a live webcast with the leadership of the G30 Working Group Leadership on Banking Culture—Chair William Rhodes, Vice-Chairs Gail Kelly and Sir David Walker, Steering Committee Member Gerd Häusler, and Project Director Elizabeth St-Onge—to discuss the results of the study and answer journalists’ questions about the report.
READ THE G30 REPORT
Banking Culture and Conduct: A Permanent Mindset Change
As part of our ongoing collaboration with the Group of Thirty, Oliver Wyman and the G30 have produced a new white paper: Banking Conduct and Culture: A Permanent Mindset Change.
2018 marks the tenth anniversary of the global financial crisis. Since then, the industry has devoted significant time and resources to understanding the underlying causes of its cultural breakdowns, and to implementing reforms needed to address the issues. And yet, throughout the last decade, and despite significant efforts, the industry has continued to be dogged by conduct scandals and failures of culture and governance. Trust in banks remains low. And at the same time, the scope of the issues has grown. As a result, banks have endeavored to implement various changes to improve their conduct and culture.
The report focuses on two fundamental questions: 1) How much progress has the banking industry made in conduct and culture ten years on from the global financial crisis, and especially since our last joint report, Banking Conduct and Culture: A Call for Sustained and Comprehensive Reform; and 2) In what areas should banks continue to press on, and what evolving questions should they be mindful of going forward?
We highlight future challenges emerging due to changing societal norms, technological advances, competitive dynamics, and macroeconomic trends.
ABOUT THE GROUP OF 30
Established in 1978, The Group of Thirty is a private, nonprofit, international body composed of very senior representatives of the private and public sectors and academia. It aims to deepen understanding of international economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors, and to examine the choices available to market practitioners and policymakers.