Archbishop of Canterbury trashes bankers 'entitlement culture'

clock

The archbishop of Canterbury, Justin Welby, has accused bankers of having "a culture of entitlement" in a scathing critique of the City's ethical and professional standards.

Welby (pictured) a member of the cross-party Banking Standards Commission, said bankers should be required to pass exams in order to raise standards in the industry and restore public trust in the profession, the Guardian reports. His comments come as the commission prepares to publish its final report on how to improve behaviour in London's financial centre. George Osborne, the chancellor, has pledged to incorporate its proposals into draft legislation. Speaking to the Financial Times, the archbishop said: "In banking, in particular, and in the City of London, a culture of entitlemen...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read