Featuring Three of The Seven Pillars this week, Marketing, People and Finance.
Adblockers. It’s something that I have been banging on about for a few months. There are two sorts of people who use the internet. 1) Those that have an ad-blocker installed and 2) Those that when they realise that such a thing exists will install without delay. Here’s a piece on the consequences from Monday Note.
Watch what you say: how employees act in public – Ogier’s head of Risk and Compliance, Peter Derrick, has highlighted issues around ‘conduct risk’ – that is, how employees conduct themselves in public and on social media when representing a company – and how that risk can be managed. ‘I often use the example of HSBC staff who went go-karting in Birmingham this year,’ said Peter.“They dressed in balaclavas and thought it would be funny to take a picture of themselves performing a mock beheading of an Asian colleague wearing a jumpsuit. “The image was posted on Twitter, and it went viral. It’s a very good example of what can go wrong…Here’s the full piece you’ll need to register (free) to download but worth a thought if you’re an employer.
Fund Managers Show Their True Colours!
From Ray Prince and Graeme Urwin, Financial Planners at Rutherford Wilkinson.
Scandal after scandal has appeared in the press and it was no surprise to hear that Barclays have sacked Anthony Jenkins who was brought in in the summer of 2012 following the departure of Bob Diamond, who left in the wake of the Libor scandal.
Paraphrasing comments in the Daily Mail, he was appointed to steady the ship and he wanted to reduce the importance of the investment arm. It seems that his boss Sir Mike Rake thought differently and wanted to retain its global presence as a major investment bank.
Apparently Barclays are close to naming former JPMorgan banker Jes Staley as chief executive, signalling a renewed focus on an investment banking division that has been pared back over the past three years.
The Daily Mail comments on JP Morgan:
“No bank has paid more in fines for abuse of markets and clients in the period since the financial crisis, shelling out some £26billion for wrongdoings.
It has been involved in every form of bad banking, ranging from Libor fiddling, to anti-competitive behaviour on corporate bonds, illegal credit card practices, misleading investors over ‘toxic mortgages’ and losing billions in high-risk hedging activity.”
It really could not be more damning.