A Sad State of Bank Industry Ethics

American Banker
September 1, 2012

Jordan A. Thomas comments on the alarming results of the Firm's survey of 500 senior people in the US and UK financial services industry

"Overall, the results were troubling...It appears the financial services industry has lost it way" says Thomas.

"I think there is a debilitating trust problem in corporate America, where people just don't trust the people who can and should be fixing some of the problems that exist," Thomas says. The number of financial professionals who feel that pay practices encourage wrongdoing "suggests there is a disconnect between what the financial services industry preaches and what it actually does"

"It seems that the financial services industry has a higher degree of cultures that are not strong," says Thomas. "Obviously this is something financial services professionals should be paying attention to."