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The Cambridge Trust in Banking Conference

20 October 2015, London Stock Exchange (this event has now passed)

The finance industry is at a crossroads - mistrusted and criticised by the public, increasingly monitored and regulated by governments and authorities.

In this environment financial institutions need to find a new way to engage with society, through both the way they act and the way in which they respond to the needs of customers and stakeholders. Trust plays an integral part in this process and these issues were addressed with thought-provoking debate and discussion from distinguished industry speakers and University of Cambridge Judge Business School academics at the Cambridge Trust in Banking conference, which took place at the London Stock Exchange on 20 October 2015.

The event was hosted by Cambridge Judge Business School's Centre for Compliance & Trust. Should you wish to find out more about the outcomes of the event you can view the videos of our speakers and participants or email the Centre for Compliance and Trust at cct@jbs.cam.ac.uk.

Smartphones, smart apps and smart entrepreneurs have the power to restore our trust in the banking industry – but only if the bankers are smart too. That’s the view of Cambridge Judge Business School professor Jaideep Prabhu, who says the fintech revolution gives banks a great opportunity to regain the public trust.

Read more

What do banks and the British Army have in common? Not much on the face of it, but as banks battle to restore trust, there may be one or two things they can learn from the men and women serving their country at home and abroad.

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Banks that fail to adopt fully an ethical agenda will be vulnerable to long-term decline. That is the stark warning from researchers Jens van ‘t Klooster and Marco Meyer, whose new study argues that the banking sector needs to embrace an ethical strategy to retain the support of society.

Read more

Speakers

Professor Dame Sandra Dawson
KPMG Professor Emeritus of Management Studies, University of Cambridge Judge Business School

Professor David De Cremer 
KPMG Professor of Management Studies, University of Cambridge Judge Business School 

Julia Dunn
Group Director, Chief Compliance Officer, Nationwide

Iman El-Marashly
Doctoral Researcher in Financial Stability and Islamic Finance, University of Cambridge

John Griffiths-Jones
Chairman, Financial Conduct Authority (FCA)

Peter Hiscocks
CEO, University of Cambridge Judge Business School, Executive Education

Professor Christoph Loch
Dean, University of Cambridge Judge Business School

Helena Morrissey
Chief Executive Officer, Newton Investment Management

Professor Alex Oliver
Faculty of Philosophy, University of Cambridge

Elisabetta Osta
Managing Director, Information, Insights and Innovation, Barclays Bank

Paul Pester
CEO, TSB Bank

Jaideep Prabhu
Professor of Marketing & Nehru Chair in Indian Business, University of Cambridge Judge Business School

Michael Roemer
Group Head of Compliance, Barclays Bank

Charles Roxburgh
Director General, Financial Services, HM Treasury

General Sir Peter Wall GCB CBE
Director, Amicus and former Chief of the General Staff of the British Army

Agenda

09:30

Registration opens

10:00

Opening remarks

Richard Hill, Executive Director of the Centre for Compliance and Trust

10:15

Opening keynote with John Griffith-Jones, Chairman of the FCA

Audience Q&A.

11:00

Developing an ethical strategy for banks

Seven years after the last global financial crisis, banks and regulators have made progress in addressing its immediate causes. The intervening years have shown as well, however, that the ethical issues that banks face run deeper. As such formulating a corporate strategy that understands the role of social purpose is one of the most important challenges that banks will face in the coming years.

In this session Professor Alex Oliver will lay down the challenge of how to build and rebuild trust, trustworthiness and a true sense of purpose in the industry. Professor Oliver will not attempt to provide ready-made solutions to the ethical problems that banks face. Rather, he will describe the key concepts for developing an ethical strategy which can inspire forward thinking in an industry ready to respond to the world around it.

Professor Alex Oliver, Faculty of Philosophy, University of Cambridge

11:15

Panel discussion: "What can banks do to meet our expectations?"

The issue of trust in banking has many faces. At a macro level the conversation is one of systemic risk, distrust and widely held distaste for the way industry actions have impacted the global economy – a severe and ongoing story about a failure of public trust.

But on a day-to-day level there is an expectation, even a certainty, that any given bank can be trusted to live up to the transactional expectations consumers have of them. There are many external forces which can be brought to bear on this challenge, such as regulatory reform, public activism or systemic change, but what is obvious is the need for banks and the industry in general to change trust attitudes through their own actions.

Dame Sandra Dawson, KPMG Professor Emeritus of Management Studies at Cambridge Judge Business School, will moderate a panel of experts exploring their views on the purpose of banking, how banks can fulfil consumer expectations and if trust is playing a part in shaping their organisational culture.

With panel:
  • Julia Dunn, Group Director and Chief Compliance Officer, Nationwide
  • Michael Roemer, Group Head of Compliance, Barclays Bank
  • Charles Roxburgh, Director General of Financial Services, HM Treasury
Audience Q&A.

12:15

Lunch

13:15

Panel discussion: "How can innovation help restore trust in banking?"

Like many organisations in the 21st century, financial services are putting innovation top of their agenda in order to overcome the distinctive challenges faced in their market place. Yet it is not just smartphones, smart apps and smart entrepreneurs that have the power to restore consumer trust in the banking industry – the bankers themselves must be smart too.

This panel debate will take a rounded look at innovation, from developing innovative mindsets and practices in organisations to embracing the financial technology (FinTech) revolution to create products that disaffected consumers are willing to trust.

Facilitated by Jaideep Prabhu, Professor of Marketing & Nehru Chair in Indian Business, Cambridge Judge Business School

With panel:
  • Helena Morrissey, CEO, Newton Investment Management
  • Professor Christoph Loch, Dean, Cambridge Judge Business School
  • Elisabetta Osta, Managing Director, Information, Insights and Innovation, Barclays Bank
Audience Q&A.

14:15

Panel discussion: "The role of leadership in building trustworthiness"

Achieving trustworthiness is at the heart of the challenge the banking industry faces today. Drawing on perspectives from within the industry and beyond this panel will explore the importance of good leadership in building trust throughout organisations not just in terms of implementing a moral code, but building confidence and establishing an environment of mutual interest and shared values. Focusing on real solutions this session will showcase methods, values and behaviours which can be brought into the industry to challenge longstanding practices and attitudes which have caused detriment to both firms and customers.

Facilitated by Peter Hiscocks, CEO of Cambridge Judge Business School Executive Education

With panel:
  • Professor David De Cremer, KPMG Professor of Management Studies
  • Iman El-Marashly , Doctoral Researcher in Financial Stability and Islamic Finance, University of Cambridge
  • General Sir Peter Wall GCB CBE, Director, Amicus and former Chief of the General Staff of the British Army
Audience Q&A.

15:15

Afternoon break

15:45

Closing keynote with Paul Pester, CEO of TSB Bank: "Can bankers be trusted?"

16:45

Drinks and networking

17:30

Close