This opportunity for change is every bit as urgent as the technology, business model and regulatory changes that are frequently focused on. I am still sceptical as to whether the cultures and values that firms espouse are, in many cases, the ones that they really want and believe in, and will be sustained at moments of real pressure.
But, it is my job to be sceptical. It is your customers’ views that are more important, and it is the treatment of them, that you are demonstrably putting them first, that is the true test. And only through cultural change can you pass this test again and again, and in doing so, restore trust in the system. I thank you for your attention.