Old Mutual: Taking a Responsible Approach to Change
Sep 3, 2015 12:00 PM ET
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Best Practice
Originally published in Best Practice Summer 2015 issue
The origins of financial services were good. Banks, insurance companies and investment houses used the power of the collective to pool and manage money, offering the customer a better deal than had they been acting alone.
The sector, back then, was on our side. Then along came what Bank of England Governor Mark Carney recently referred to as “ethical drifting”. The original banking ethos was replaced by a commitment to shareholders exclusively – and ensuring executive enrichment along the way
