Trichet says banks must keep 'hammering' at their culture

G30 warns many banks are still lagging behind

Jean-Claude Trichet

Many banks have failed to deliver on promises they would improve their behaviour, and need to embark more seriously on a process of cultural change, according to members of the influential Group of 30 (G30).

"Those banks that have developed a culture that is not appropriate have to do a lot of hard work ... in terms of changing behaviours inside the firm," says Jean-Claude Trichet, the former governor of the European Central Bank and current chairman of the G30, speaking to Central Banking

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