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LEADERSHIP IS A PROCESS OF SOCIAL INFLUENCE, WHICH MAXIMISES THE EFFORTS OF OTHERS TOWARDS THE ACHIEVEMENT OF A SHARED GOAL.
Monday, July 02, 2012
This extract from a recent editorial in the Financial Times highlights the continued appalling state of the UK banking sector and the need for wholesale change in leadership. British bankers really do need a moral compass!
‘The Barclays affair may lack the spice of some recent banking scandals, involving as it does the rather dry “crime” of misreporting interest rates. But few have shone such an unsparing light on the rotten heart of the financial system……..What is shocking is the casual way in which this con was perpetrated, and how few checks were in place to stop it. The messages swapped between traders – with their promises to reward fiddled figures with bottles of champagne – breathe an easy sense of entitlement. They also speak volumes about the rotten culture at Barclays. Bob Diamond, the bank’s chief executive, gave a lecture last year in which he stressed the importance of culture in establishing an ethos of trust and integrity. “Culture is difficult to define,” he explained, “but for me the evidence of culture is how people behave when no one is watching.” Well, now we know.’
For the full article, see: