King: banks 'could learn a thing or two' from Olympics

clock

Banks "could learn a thing or two about fair play" from the Olympic movement, according to Bank of England governor Mervyn King.

King also said the games' impact on confidence could boost the economy. Writing on the Mail on Sunday, he said there were lessons to be learned for the British economy from the success of the 2012 games, including that an objective worth attaining, "like a gold medal, requires years of hard work". "Success does not come overnight. That is as true of our economy as it is of sport," he wrote. King added the banking system must be reformed to focus less on making money in the short term and more on building businesses to serve customers' needs over time. "Yes, for many years, ou...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read
Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read