Epilogue: Has there been any change in UK Banking culture?

On 7th December last year I wrote a piece about the culture of the UK banking industry.  A link to the full article is here: Has there been any change in UK Banking culture? And will there be in future?

I stumbled on the following quote this afternoon and was immediately reminded of what I'd written previously.  It articulates well the direct and inextricable link between leadership behaviours and the culture of an organisation.  The example has to come from leaders and filter down through the organisation. 

"Our efforts to inculcate core values is failing because as an institution we have lost the ability to set a proper example at every level of the chain of command, those below are losing faith in those above. Without this trust, loyalty is impossible. We are left with slogans and lesson plans, the dry shells of concepts that should be the life blood of our organisation.”

US Marine Corps Matthew Jones

Naval Institute Proceedings 1997

Ultimately my conclusion remains unchanged: The prize is enormous for the bank that shifts its culture, and sustains it, but the size of the challenge facing leadership is also enormous. And so far it's been too big.

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