Culture, acquisitions and regulation at Scotiabank

In a year of scandals involving Libor, mis-selling and money-laundering in acquired institutions, the banking sector remains under the spotlight. Luc Vanneste of Scotiabank talks to Jessica Meek about the importance of maintaining a strong internal culture both at home and away, and also expresses his concern over banks' mounting regulatory commitments

Luc Vanneste

Since the financial crisis, the global banking world has been taking a long, hard look at its internal culture. Recent events have done nothing to improve the public's perception of what goes on inside our financial institutions. This year alone has seen Barclays lose its chief executive Bob Diamond, chairman Marcus Agius and chief operating officer Jerry del Missier in the wake of the Libor-rigging scandal.

And the UK Financial Services Authority (FSA) has confirmed that Barclays was not alone