Finance

In Search of the Virtuous Banker

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Despite some progress over the past 10 years, the controls put in place to prevent another global financial crisis fail to address two key concerns: corporate culture and individual character. There's still a lot of work to be done to define and agree what makes a good bank as well as a good banker. The author, an internationally recognized scholar in business and financial ethics, believes a return to the ancient moral philosophy of virtue ethics is a good place to start. Using an exercise he devised for accountants, he suggests how those in the banking profession might likewise begin to rethink their assumptions, values and stakeholder relationships to come up with a more compelling sense of purpose than the profit-at-all-cost one that precipitated the Great Recession. The virtue framework he proposes can be beneficial for self-reflection, for recruitment and selection criteria, or for framing a staff development agenda. Don't let the lack of an internationally agreed code of ethics for banking stop you from becoming a virtuous banker.
Bibliographic citation: Cowton, Christopher, "In Search of the Virtuous Banker: A Framework to Avoid Moral Bankruptcy", IESE Insight, No. 38, Third Quarter 2018, pp 31 - 38

Reference: 10.15581/002.ART-3202 (DOI)
Date: 17/09/2018
Author(s): Cowton, Christopher
Document type: Non-refereed article
Languages: Spanish / English