Managed Maybe But Certainly Not Governed...

The lack of sufficient Corporate Governance with the UK Financial Services industry.

In a recent speech, Lord Myners (Financial Secretary to HM Treasury) stated the recent failings in corporate governance of the banking sector have been shown in the last few months. His view only confirmed that of the Organisation for Economic Co-operation and Development, which stated that although the lack of corporate governance was not the sole or direct cause to the current financial crises, it certainly facilitated (or did not prevent) the industry practicing misjudgement, poor performance and a failure to anticipate systemic risk.

These views were echoed in a recent roundtable discussion sponsored by els and chaired by Joshua Rozenberg where leading industry professionals debated the premise that although the market has taken a better appreciation of risks in the last few months, there is still a long way to go before it has properly integrated it satisfactory to help