16 March 2010

Angela Knight, Chief Executive of the British Bankers Association, was our guest speaker at the Rose Bowl on 15 March. Her lecture was on the theme of The Banking Evolution - and there is more to come.

At a time of economic uncertainty and a global financial crisis, the banking sector has faced unprecedented levels of scrutiny and public comment. This lecture was an opportunity to listen to and engage with one of the most prominent members of the UK′s banking community.

Angela’s said that her role, which began she says on April Fools Day 2007, was to get the banking industry onto the front pages of the newspapers – and that this has happened in ways that were not always expected.

The 2008 banking collapses showed the global nature of banking and that local problems can have a global impact – an impact which has shaped not only public perception of banking, but also changed the political climate.

Angela outlined the way ahead for banks, in which they should move towards increased stability, which can be achieved by holding more capital. Banks, she argued, will continue with business as usual, but with improved risk controls, governance and plans in place to deal with failure.

With a forthcoming election and with growing calls for a reform of the banking industry, Angela argued the need for the authorities to do what is right – not simply what will gain short-term political advantage.

Inevitably one of the questions from the floor addressed the issue of political hot potato of bankers– bonuses. Angela argued that high bonuses are only paid to a few very highly paid individuals, working in areas that can provide very high returns. She emphasised that if the UK wants to keep this business then it must be willing to pay a level that is competitive throughout the world.

Angela was thanked by Associate Dean Rachel Banfield for her stimulating lecture, which attracted a large audience from the business and professional community.

Click here to read the full story at the Yorkshire Post