Conduct and culture
Following the financial crisis, stability and doing the right thing for customers and clients is now as equally important as profit. To achieve this difficult balance firms need to address their customer strategies, culture and conduct risk appetite together. Whilst intuitively the link between customer, culture and conduct is clear, in practice responsibility may sit in different parts of the business who are often working to very different objectives. Firms that can demonstrate their people put the interests of the customer at the heart of the decision making process, and are rewarded for doing the right thing, will help rebuild trust with customers, investors and regulators.