The Trust Deficiency in Banking and How to Fix It

Having watched the growing politicisation of banking, aggressive media handling of the issues, and the continuing inability of the banks to push back, I am keen to offer a personal view of what banks might do to handle these problems. I am doing this partly out of frustration: I spent 13 years as CEO of a major domestic bank in Australia and since witnessed a deterioration in public trust and the seeming inability of bank boards and their executives to respond. In particular, banks appear to have adopted ever more sophisticated systems of risk management, but still suffer from “own goals” – mistakes that reverse any progress they might have made in restoring their reputations