Tag Archives: Crisis Management

Banks Desperately Need A Crisis Management Plan (Part 2)

A few days ago I posted an article, which can be found here, setting out why banks needed to up their game in terms of developing a plan to manage the current crisis, otherwise they faced the imposition of regulations and higher capital requirements that would be bad for them and bad for their economies. Well both Barclays and Deutsche just got a nasty surprise. Continue reading

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Banks Desperately Need A Crisis Management Plan

Can you imagine a major industry which suffers a near death experience, angers its entire customer base—wholesale and retail, domestic and international—and yet refuses to publicly apologise and adopt a plan of action that commits the industry to not repeating the mistakes of the past. That is where the banking industry is at right now.

This lack of decisive action on the part of the industry’s leadership will do lasting damage to not only the industry but also to its as yet unforgiving customers and the global economy. Part of the problem is that the industry does not appear to even realise that it is in a crisis—one which has been brought about by a complete loss of public faith in its activities. That is a tragedy. Continue reading