The cultural shifts taking place in financial services are significant. With punitive fines being issued for miss- selling, non-compliance and rate fixing – the banking sector in particular is under close scrutiny with regard to its ethics, integrity and customer-focus.
Governments have responded with a tighter and more prescriptive regulatory regime that is both resource intensive and highly bureaucratic. In the UK it also establishes more explicit levels of personal accountability in the form of the Senior Manager Regime.
Strong leadership at all levels will be required to drive the shift in cultures, behaviors and mindsets needed to restore customer trust, public confidence and engender ‘ethical high performance’.
This report explores the current challenges facing leaders in financial services and provides guidance from the perspective of leadership development, learning and culture change.