Romer-Lee: To investors we're all banks

Laura Miller
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Investors view the whole of the financial services industry through the prism of banks' behaviour, meaning trade bodies must do more to talk up the good the profession does, according to ex-Morningstar OBSR managing director Richard Romer-Lee.

Romer-Lee (pictured), who has set up consultancy firm Square Mile Investment Consulting and Research with Nigel Whittingham after the pair left Morningstar OBSR last October, said there remains a "serious lack of trust in the industry". This distrust is "mainly" as a result of banks' behaviour - such as the scandals around payment protection insurance (PPI) mis-selling and LIBOR rate rigging - he said, but the effect ripples across the rest of the industry. "To investors we're all banks," he told a conference in New York. To counter this, the industry needs to engage with people mo...

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