Investors must probe bank culture, says veteran financier

Ex-Barclays chairman says managers should take “stewardship responsibility” for bank conduct

davidwalker
Walker: bank focus on short-term earnings is "corrosive"

Investors and fund managers need to take greater interest in how banks are building and maintaining robust cultures, including by ensuring the existence of board-level bank committees dedicated to overseeing conduct and ethical behaviour, said David Walker, former chairman of Barclays and chairman of UK-based investment manager Winton Capital Management.

Walker delivered a blunt assessment of the state of banking culture since the  financial crisis and the Libor and foreign exchange manipulation

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