How global banks can improve board governance
Lax board governance is often cited as one of the primary factors that caused the financial crisis. Investors and regulators have called for significant reform in board governance and, for a number of banks, demanded different board rosters.
Today, the debate around oversight and governance has taken a prominent place alongside bank strategy on the agenda of bank board members and CEOs. Stakeholders have made it clear that they plan to hold directors more accountable, in particular for decisions on risk and compensation structures.
In this report, we lay out the new expectations for bank board members and offer insights on how they can rededicate their expertise and talent in ways that will ultimately lead to restored trust in the global banking system.