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Our senior teams are committed to treating customers and clients fairly, believing such an approach is vital for a sustainable business.

Consumer Banking

Our Consumer Banking management team has been working hard to make treating customers fairly at the centre of everything we do and to change employee behaviours and attitudes to enable that. New governance measures have been implemented including:

  • accountability for customer issues under our Voice of Customer (VOC) Management Committee, which is chaired by Steve Bertamini, our Chief Executive Officer of Consumer Banking. All issues related to customer complaints of being treated unfairly or mis-sold products are monitored by our senior management. Each country refers serious issues to the Voice of Customer Committee, which alerts the Consumer Bank Risk Committee and our Group Risk and Audit Committee to any significant problems
  • establishing a cross-functional team to develop a comprehensive set of management information for monitoring customer issues
  • engaging external advisors who have shared industry best practice with us and assisted with embedding the culture of treating customers fairly throughout Consumer Banking
  • introducing senior management leadership sessions and specific training related to Treating Customers Fairly
  • redesigning remuneration incentives and sales discipline measures
  • commencing a long term, multi year project to improve the consistency, user friendliness and transparency of customer facing documentation

Core to the success of the Treating Customers Fairly programme is the development of constructive, targeted and insightful management information, which covers the customer risks identified by each business and measures performance. The management information pack, constructed on an intranet website central platform ensuring timely, global access, pulls together key indicators to enable an understanding of the root causes behind customer issues and highlight any corrective action required.

Wholesale Banking

Leadership and awareness

Wholesale Banking has taken a centralised approach to set direction and deliver key messages to staff regarding interaction with clients, focusing on ensuring that appropriate products are sold to clients with appropriate risk disclosures. Senior management and business heads regularly reinforce this message, particularly in the Financial Markets (FM) and Origination and Client Coverage (OCC) businesses.

The Culture of Excellence initiative was launched in 2009 to support the focus on fundamentals. This initiative includes web-based learning modules designed to reinforce relevant staff knowledge of policies, products, processes and procedures, and enhance client service. These learning modules include various topics designed to achieve professional excellence.

The clarity and discipline of Wholesale Banking's strategy have led us to redefine the way we expect our staff to behave to reinforce this culture. We have defined the following fundamental behavioural principles:

Client-centricity: our relentless insistence that any new product or service must serve a client's needs rather than act as a mechanism for short-term profit has been a critical differentiator for our business.

Collaboration: working together in teams across functional boundaries to bring the bank to our clients and demonstrate a mutual commitment to them. For example, encouraging collaboration between our relationship managers and product specialists across borders.

Excellence: encouraging individuals to set themselves the highest standards and to seek continuous improvement is an important element of our risk and control environment.

Long-term performance and reward focus: rewarding the best performers who create long-term shareholder value.

Integrity: winning the trust of our clients and communities requires that we consistently demonstrate the highest levels of integrity, and that starts with the way our staff behave on a daily basis.

Report tools

Annual Report and Accounts 2009