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

Budget 26: Key takeaways from Healey's first Budget

Budget 26: Key takeaways from Healey's first Budget

Eight takeaways

Michael Nelson
clock 29 October 2026 • 4 min read
UK inflation jumps higher than forecast to 3.5% in 'dose of reality'

UK inflation jumps higher than forecast to 3.5% in 'dose of reality'

Interest rate hike ‘likely’

Michael Nelson
clock 21 October 2026 • 3 min read
Fahad Hassan: When good news becomes an inflation problem

Fahad Hassan: When good news becomes an inflation problem

'Markets have been adjusting to the risks through valuations all year'

Fahad Hassan
clock 29 September 2026 • 6 min read