Barbara Kimmel, The FCPA Blog, March 17, 2016

Jes Staley is the newly appointed American CEO of the beleaguered British Barclays Bank. He recently said, “I do believe that trust is returning to our institution. But we will never rest, we are never done. We have to focus on building that trust every day.”

We asked our Trust Alliance members to weigh in on the steps Barclays new American CEO should take to build trust and ethics.

Davia Temin, a leading reputation and crisis response consultant, said, “Rebuilding trust in financial institutions is a complex algorithm that can test the skills of the best financial engineering ‘rocket scientist.’ Far from simply making a pronouncement of one’s intent (although that can be the first step), the organization needs to first deconstruct all the elements that went into building trust in their particular firm in the first place, analyze all the things that went wrong, and then construct a plan to overcorrect the breaches. Because simply fixing them will not rebuild trust, it will only, maybe, stop the erosion. But this is seriously hard work.” […read more]