Internationally recognized expert in corporate governance John Zinkin's new book, 'Rebuilding Trust in Banks', offers Directors of banks advice and suggestions for restoring customer’s trust level once again at the industry, organizational and individual levels
Author and internationally recognized expert in corporate governance
John Zinkin attempts to make a strong case that the global banking
crisis was due primarily to a failure in leadership and corporate
governance. In his new book, Rebuilding Trust in Banks: The Role of
Leadership and Governance (Wiley, 2013), he explains why, without
effective corporate governance to balance out the zeal and ambition of
effective leaders, sustainable long-term value cannot be created.
According to Ernst & Young’s 2012 Global Consumer Banking survey, there
is a net decrease in confidence level towards the banking industry, with
an overall 40% of customers losing trust in the industry over the past
year and only 22% gaining confidence. Nevertheless, its Global Banking
Outlook 2013-14 summarizes that banks are still struggling to adapt
their business models to the new policies and changing expectations of
its customers and shareholders.
“Leadership and governance cannot, and must not, be treated separately,
because without governance there is nothing to prevent great leaders
from becoming great bad leaders,” Zinkin said.
To illustrate this point, Zinkin explores the stories of four “imperial
CEOs” who personify the crisis of leadership that is currently plaguing
the banking industry. They include Merrill Lynch's CEO, Stan O’Neal;
Jimmy Cayne of Bear Stearns; Richard S. Fuld of Lehman Brothers; and
Royal Bank of Scotland’s Fred Goodwin. He examines how these apparently
successful, transformational leaders had ended up destroying the
organizations they have helped take to the next level.
Drawing parallels between military general and political leader Napolean
Bonaparte’s career to those of the four very successful bankers who also
ended up as failures, Zinkin extracts powerful lessons about the major
precipitating causes of failures in leadership and the paramount
importance of good corporate governance. He then provides useful
benchmarks and best practices, from a global perspective, for ensuring
good corporate governance and responsible leadership in banking and
finance.
The book is also supplemented with a series of checklists that board of
directors can use for ensuring their management is on the right track.
Directors of banks, financial professionals, journalists, academics and
anyone who are passionate about creating sustainable business value in
the financial services industry will gain an in-depth understanding of
the “performance aspects” of corporate governance.
In the book’s praise, Didier Cossin, Director of the IMD Global Board
Center and Professor of Finance and Governance at IMD Business School
said, “Many bankers can profit from the reflection, tools and checklists
proposed to assess their own or other’s institution. This should be a
must-read for the senior manager of any significant financial
institution around the world.”
More information on Rebuilding Trust in Banks is available at: www.wiley.com/buy/9781118550380.
The book is available from the Wiley Online Store (www.Wiley.com),
and through all key online book retailers and major bookstores.
About the Author:
John Zinkin is Managing Director of Zinkin Ettinger Sdn. Bhd. and
faculty member of the Iclif Leadership and Governance Centre, Malaysia,
specializing in training boards in Ethics and Governance. He was
previously Managing Director of Corporate Governance at the Iclif
Leadership and Governance Centre, Malaysia. Before that he was the CEO
of the Securities Industry Development Corporation (SIDC) – the training
and development arm of the Malaysian Securities Commission - where he
was responsible for taking the company from its incorporation to
financial self-sufficiency.
Since moving to Malaysia in 2001, he has been Associate Professor of
Marketing and Strategy at Nottingham University Business School,
Malaysia Campus and he has his own independent consulting company. He is
also a member of the Global Coaching Partnership based in Sydney.
About Wiley:
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