14 Mar

100 City leaders to tackle ‘trust deficit’ at ‘Future of Financial Services Summit’

Summit to be staged and broadcast live on Monday 15 April to discuss how to forge a new settlement between the City and society

Policy Review Intelligence has convened a high-profile Summit of 100 business leaders from leading City firms to examine how to restore greater levels of trust in the financial services sector and forge ‘a new settlement’ with wider society.

The event is being held in response to the on-going reputation challenge currently being faced by the financial services sector and in response to the concerns of policy-makers and the wider public.

The confirmed list of headline contributors at the Summit includes:

  • Andrew Bailey, Chief Executive, Prudential Regulation Authority 
  • Chuka Umunna MP, Shadow Business Secretary
  • Ashok Vaswani, CEO UK Retail and Business Banking, Barclays
  • Saker Nusseibeh, Chief Executive Officer, Hermes
  • Richard Sexton, Board Member for Reputation and Policy, PwC 
  • Mike Cherry, National Policy Chairman, FSB
  • Jane Archer, Policy Director, London First
  • Chris Cummings, Chief Executive, TheCityUK
  • Richard Sermon, Chair, City Values Forum
  • Paul Sizeland, Director, City of London Corporation
  • Patrick Jenkins, Banking Editor, Financial Times

This Summit will bring together leaders from across the financial sector (including accounting, banking, insurance and legal sectors), the financial media, relevant politicians and other key players for a half-day Summit to examine the issues and come up with practical solutions.

Key stakeholders and members of the public will be able to watch elements of the Summit broadcast live from 13:00 on Monday 15 April 2013 and be able to send in their points and comments interactively at:http://www.policyreview.co.uk/financial-services-summit-2013/

There will also be a recorded version published after the Summit.

Gavin Hayes, Editorial Director, Policy Review Intelligence said:

“Five years on from the financial crisis in 2008 there is still a palpable lack of trust in not just banking, but the finance sector as a whole – such low levels of trust cannot be healthy for our economy or indeed wider society. Trust can in part be rebuilt by City leaders coming together to find solutions and then committing to a process of culture change within their businesses – more fundamentally in order to address the current ‘trust deficit’ we need a new settlement between the finance sector and wider society.“

Ashok Vaswani, CEO UK Retail and Business Banking, Barclays said:

“Meeting the evolving needs of customers, businesses and wider society means banks need to think differently. Doing this means engaging stakeholders and being committed to transparency, service and fresh thinking.”

Richard Sexton, Board Member for Reputation and Policy at PwC, said:

“This Summit is an important step towards finding a solution to the complex challenges around trust faced by financial services institutions. One solution that’s often put forward to rebuild trust is regulation; but regulation alone will never fully close the gap between fine words and authentic values-led behaviour. People’s attitudes and expectations of financial services institutions of all types have undergone fundamental shifts in the wake of recent events. To earn trust in this new environment, these changes in public expectations must be matched by a new sense of corporate and social purpose.”

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