Archbishop of Canterbury trashes bankers 'entitlement culture'

clock

The archbishop of Canterbury, Justin Welby, has accused bankers of having "a culture of entitlement" in a scathing critique of the City's ethical and professional standards.

Welby (pictured) a member of the cross-party Banking Standards Commission, said bankers should be required to pass exams in order to raise standards in the industry and restore public trust in the profession, the Guardian reports. His comments come as the commission prepares to publish its final report on how to improve behaviour in London's financial centre. George Osborne, the chancellor, has pledged to incorporate its proposals into draft legislation. Speaking to the Financial Times, the archbishop said: "In banking, in particular, and in the City of London, a culture of entitlemen...

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

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read