BankingFutures

Who are we?
BankingFutures is run in partnership by Leaders’ Quest and Meteos, two non-profit organisations committed to enhancing the positive role business plays in society.

What is our goal?
We aim to contribute to create a healthy, resilient and inclusive banking sector in the UK; one that can withstand shocks and enables all stakeholders to participate in the economy.


What is BankingFutures?

To meet this challenge BankingFutures has created a forum for a sustained, multi-stakeholder dialogue to contribute to debates about bank reform. It convenes leading figures in the UK’s largest banks, regulators, customers and civil society experts to jointly address:
⦁ The lack of visible leadership from the banking sector and the need for a frank conversation about how to (re)align incentives to deliver long-term value and better societal outcomes
⦁ The need for improved communication between those advocating for reform within the sector and civil society
⦁ Limited engagement by institutional investors about their role in reshaping bank behaviour.

Our goal is to create an opportunity for societal stakeholders to engage with leaders of bank reform to propose policies and actions for the creation of a diverse, sustainable banking system.

Phase 1
BankingFutures began with a structured dialogue with over 200 industry leaders, investors and customers. The resulting report, Banking on Trust, (February 2016), called for the UK banking system make significant progress in three specific areas.

Phase 2
Phase 2 is building on this work by creating three Action Groups committed to developing policy, market and management recommendations in three areas:
1. Forging strong links between the financial system and the real economy
2. Reintroducing a long-term culture into investing (in recognition that the current model has been at the expense of customers and society)
3. Improving duty of care to customers, and particularly more vulnerable members of society.

We will launch the consolidated findings in December 2017 with a road map for tangible actions against a 2020 horizon. The project will be overseen by a Steering Group of senior banking leaders, investors, financial reform experts and civil society representatives. Their remit is to provide guidance and supervision, and to ensure the cross-pollination of ideas across our three Action Groups.

What’s our method?
We will seek to achieve these goals by undertaking formal roundtables, facilitated office-based workshops, site visits to users of bank services, conversations with financial exclusion experts, and meetings with people who’ve personally experienced bank shortcomings. Our work is underpinned by extensive primary and secondary research, and consultation with a range of external experts.

Our process is designed to enable these stakeholder groups to build trust and collaborate on solutions. The BankingFutures Steering Group and three Action Groups, will therefore comprise representatives from each stakeholder group, tasked with the leadership needed to work collectively towards solutions.

Our deadline
In December 2017 our BankingFutures project will publish its final report, laying out a road map to 2020 towards a healthy banking sector.

Our ethos
BankingFutures takes a systems approach to change within the financial sector. We believe different actors and interests within the financial system hold it in place, and that substantive change requires collective input and action. The principle system actors are investors, bank employees, regulators and customers and civil society. They all need to be involved in the process of change. Experience teaches us that we must seek systemic change through a multi-stakeholder, cross-sector leadership approach. That real commitment to action is most likely to come about through joint analysis of opportunities for change, and a collaborative search for solutions across all interested stakeholders.

We believe concrete commitment to action, and visible, forward looking leadership will lead to long-term change.

The BankingFutures Steering Group

John Flint, Chief Executive, Retail Banking and Wealth Management, HSBC Holdings Plc
James Garvey, Managing Director, head of Capital Markets, Lloyds Banking Group
Tony Greenham, Director of Economy, Enterprise and Manufacturing, RSA
Andy Griffiths, Senior Advisor, Corsair Capital & Executive Director, Investor Forum
Jessica Ground, Global Head of Stewardship, Schroders
Matt Hammerstein, Head of Client and Customer Experience, Personal and Corporate Banking, Barclays
Will Hutton, Chair, Big Innovation Centre Steering Group, Big Innovation Centre
Stephen Jones, Independent
Stuart Lewis, Chief Risk Officer and Member of the Management Board and Group Executive Committee, Deutsche Bank
Francesca McDonagh, Head, Retail Banking and Wealth Management, UK & Europe, HSBC
Glen Moreno, Chairman, Virgin Money
Faith Reynolds, Independent
Fred Rizzo, Portfolio Manager, GIC
Nick Robins, Co-Director, Inquiry into the Design of a Sustainable Financial System, UNEP
Simon Samuels, Independent consultant
Bevis Watts, UK Managing Director, Triodos
Helen Wildsmith, Stewardship Director, CCLA

BankingFutures Action Group 1 Participants

James Cliffe, Head of Business Banking UK, HSBC
Tony Greenham, Director of Economy, Enterprise and Manufacturing, RSA
Will Hutton, Chair, Big Innovation Centre Steering Group, Big Innovation Centre
Tony Baron/Martin McTague, Chair of the Treasury Policy Unit/Policy Director, FSB
Marloes Nicholls, The Finance Innovation Lab, Strategist and Senior Fellow
Stephen Pegge, Group Competitive Markets and Business Policy Director, Lloyds
Faith Reynolds, Independent
Nick Robins, Co-Director, Inquiry into the Design of a Sustainable Financial System, UNEP
Jennifer Tankard, Chief Executive, Community Investment Coalition
James Corah, Head of Ethical and Responsible Investment, CCLA
Stephan Wilken, Managing Director, Head of Enterprise Risk and Model Risk, Deutsche Bank AG

The recruitment process for Action Group 1 is in process; further participants will be added to this list in the coming weeks.

BankingFutures Action Group 2 participants

Carla Antunes da Silva, Deputy Group Strategy Director, Lloyds
Justin Bisseker, Pan-European Banks Analyst, Schroders
Albert Coll/Paul Novelle, Institutional Policy and Market Relations Director/Head of External Relations, Banco Sabadell ‎
Paul Cox, Senior Lecturer of Finance, University of Birmingham & Investment Advisor, NEST
Lawrence Dickinson, Group Chief of Staff and Company Secretary, Barclays
John Flint, Chief Executive, Retail Banking and Wealth Management, HSBC Holdings Plc
Andy Griffiths, Senior Advisor, Corsair Capital & Executive Director, Investor Forum
Sue Harding, Director, Financial Reporting Lab, Financial Reporting Council
Will Hutton, Principal, Hertford College, University of Oxford & Chair, Big Innovation Centre Steering Group, Big Innovation Centre
Stephen Jones, Independent
Hendrik-Jan Laseur, Founder, Lead the Change
James Hopkinson, Global Head, Investor Relations, Standard Chartered
Sacha Sadan, Director of Corporate Governance, LGIM
Simon Samuels, Independent consultant
Eugenia Unanyants-Jackson, Director, Head of ESG Research, Allianz Global Investors GmBH

BankingFutures Action Group 3

Action Group 3 begin work in Q4 and detailed recruitment will begin soon.