Trichet says banks must keep 'hammering' at their culture
Progress towards improving culture and behaviour at banks is uneven, and the G30 is calling on the laggards to catch up
Many banks have failed to deliver on promises they would improve their behaviour, and need to embark more seriously on a process of cultural change, according to members of the influential Group of 30 (G30).
"Those banks that have developed a culture that is not appropriate have to do a lot of hard work ... in terms of changing behaviours inside the firm," says Jean-Claude Trichet, the former governor of the European Central Bank and current chairman of the G30, speaking to Central Banking
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