In November 2018, the Group of Thirty (G30), which is a non-profit organization composed of senior members of industry, government, and academia, released a report titled Banking Conduct and Culture: A Permanent Mindset Change.1 Led by a steering group composed of former Westpac CEO Gail Kelly, former Citibank Chairman Bill Rhodes, and former Barclays Chairman David Walker, this report built upon a 2015 G30 report, Banking Conduct and Culture — A Call for Sustained and Comprehensive Reform.2 The 2018 report focused on two fundamental questions: how much progress has the banking industry made in culture and conduct since the financial crisis; and where do we go from here?
Before discussing industry progress, the report highlighted eight key lessons that were repeated over and over again by financial sector leaders:
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