IT was a beguilingly old-fashioned image of banking presented by the RBS chief Stephen Hester last night.Penitent but dignified, as all banking bosses must be in these unforgiving times, Hester itemised progress made at the much-criticised institution since 2008 but also reiterated an acceptence of RBS's failings and those of the banking industry as a whole.
IT was a beguilingly old-fashioned image of banking presented by the RBS chief Stephen Hester last night.Penitent but dignified, as all banking bosses must be in these unforgiving times, Hester itemised progress made at the much-criticised institution since 2008 but also reiterated an acceptence of RBS's failings and those of the banking industry as a whole.
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The definition of corporate success had become "dangerously narrowed" since the 1980s to focus on increasing profit, he said.
The ethos of the banking industry had become selfish, both personally and institutionally. Really good companies, by contrast, "serve their customers well", not just as individuals but as members of a wider community. Pay awards should reflect improvements in customer service, not just sales. Banks should articulate to employees what "doing the right thing" means, not merely stick a code of ethics on the company intranet. In short, "the role of good companies and good banks extends beyond the narrow pursuit of profit".
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Hester's vision for his bruised bank
IT was a beguilingly old-fashioned image of banking presented by the RBS chief Stephen Hester last night.Penitent but dignified, as all banking bosses must be in these unforgiving times, Hester itemised progress made at the much-criticised institution since 2008 but also reiterated an acceptence of RBS's failings and those of the banking industry as a whole.
The definition of corporate success had become "dangerously narrowed" since the 1980s to focus on increasing profit, he said.
The ethos of the banking industry had become selfish, both personally and institutionally. Really good companies, by contrast, "serve their customers well", not just as individuals but as members of a wider community. Pay awards should reflect improvements in customer service, not just sales. Banks should articulate to employees what "doing the right thing" means, not merely stick a code of ethics on the company intranet. In short, "the role of good companies and good banks extends beyond the narrow pursuit of profit".
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We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
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