STUDY: CULTURE IN FINANCIAL SERVICES COMPANIES - A JOURNEY

A recent Harvard Business Review article stated, “Great performance can never come without great people and culture, and the opposite is also true – great people and culture are usually linked to high-performing organisations.

 

Over recent years the financial services industry, an industry which I work with very closely has seen the devastating effect that the wrong culture can cause, both in terms of performance and reputation.

 

It’s true that a number of financial institutions are now beginning the journey to building corporate cultures to put people’s needs at the heart of decision-making They recognise that in doing this they send a clear message to stakeholders (investors, employees, regulators).

 

The FCA are looking carefully at culture in financial services. Right now that looks carefully at governance and risk taking but will increasingly see it look at organisation design, diversity, communication, training, leadership and values as measures of creating a WELLBUSINESS™.

 

I truly believe that reform of the financial industry will not be complete until this issue of values, trust and ethics is addressed.  This requires “getting the culture right”. By culture, I mean the shared values, attitudes and norms that guide the actions and behaviours of those working within the organisation.

The journey will be a long one but I believe with utter conviction, that performant financial services companies will need to be a WELLBUSINESS

"Great performance can never come without great people and culture..."

Rachel Treece

CEO

Rachel previously worked in the global financial services sector and has a vast experience in managing multi-cultural teams for FTSE and Fortune 100 companies. Rachel is a psychologist and Chartered Marketeer and has long since championed the need for the changing role of Human Resources to adopt a marketing centric approach. Rachel was awarded Most Inspiring Women in Entrepreneurship in 2012 and is a founding member of Dress for Success (Luxembourg) as well as being a co-author of the book Unlock your Mind. She has regularly lectured on the University of London MBA programme.

 

Rachel is British and, in 2014 became naturalised Luxembourgish. She speaks four languages fluently. She is married to Keith, has a young daughter, lives in Luxembourg yet close to the airport fulfilling her passion for travel regularly.

 

Rachel’s passions: In addition to travel, Rachel enjoys keeping fit (to compensate for her love of all things bubbly and fine food), a frustrated artist – she loves looking at and creating PopArt and loves “the brand”.

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