• Site search

Analysis - Industry

Barclays' ethics code: cultural revolution or PR spin?

Mortgage Solutions | 23 Jan 2013 | 12:45

Mortgage Solutions

Last week, Barclays chief executive Antony Jenkins told the bank’s employees that they needed to commit to a new set of standards – or quit.

barclays-7662948

It was a strong message and, given the FSA's latest revelations about UK banks' sales incentives, which lead to misselling, well-timed.

Barclays said it plans to train key staff in these values later this year and measure staff on those values in future performance assessments. Is this a commendable bid to overturn a toxic culture? And will it work, or are ethics codes just another PR patch on what has oft been coined a 'broken banking culture?'

For this week’s Market Watch, our commentators are:

Barclays chief executive Antony Jenkins, who acknowledged the bank had become disconnected from customers in a frank letter to staff

Corporate communications consultant Stuart Bruce, who says simply introducing an ethics code is unlikely to change bank culture

Social Market Foundation senior economist Nida Broughton, who says simpler products, rather than ethics codes, is the key to restoring trust in Barclays

Categories: Industry
  • Print this page
  • Share

Recent comments

blog comments powered by Disqus

Latest jobs

Job of the week

Audio/Video

Broker Board

Events

There are no events currently scheduled. Visit Incisive Events for details of all events from Incisive Media titles.

Updating your subscription status Loading

ADVERTISEMENT
ADVERTISEMENT

Events

event logo

British New Homes Mortgage Senate

16 Oct 2014

London, UK

event logo

The Mortgage and Protection Event

17 Nov 2014

Birmingham, Manchester, Newcastle, UK