Pat Lardner, CEO of Irish Funds, spoke at a Chartered Institute for Securities & Investment virtual seminar this week, on the vital need to improve financial literacy levels as part of the process of rebuilding trust in financial services in Ireland.
Diversity of thought and constructive challenge are also key building blocks in what is a journey not a destination, he noted. Mr Lardner stressed that in financial services, “reputation binds everything we do.”
Also speaking at the event, Marion Kelly, CEO of the Irish Banking and Culture Board, said that, “when mistakes happen, they need to be addressed quickly and communicated quickly.” Ms. Kelly also welcomed moves towards individual accountability at executive level and highlighted the benefit of a consultation process in the lead up to such legislative change.
Michael Mainelli, Chartered FCSI(Hon), Chairman of Z/Yen, stressed reputation and brand as key elements not just locally but globally. Mr Mainelli pointed to concentration in financial services not being a good thing whether amongst banks, auditors or rating agencies.