And The Most Ethical Staff In The Financial Markets....
More in BUSINESS NEWS
back-up- Top Firms Finally Hit By H1N1 Threat
- Top Firm Caught Out By Rogue Traders
- 'It's Not As If They Paid Great Bonuses In The First Place!'
- Top Firm Chain Letter
- Sisters Are Doing It For Themselves
- Dear All - 'I Am Not Interested' In Bank of America Job
- Bank of America, BNP Paribas, Goldman, JPMorgan, Galleon Group
- Old Traders Never Die - The Seance
- Click Here To Register For Free News E-Mail Alerts
- Speculation Mounts About Goldman's Bonus Plans
- Top Boss Tells Church Crowd 'Profit Is Not Satanic'
- Your Views On Bonuses (Poll Results)
- Bank of America 'Is Not A Monarchy'
- Bankers Will Have The Last Laugh On Pay
- 'There Aren't Many People Who Think Charlotte Is A Major Financial Center'
- Top Firm Delivers 'Another Big Disappointment'
- Bank Of America CEO Poll - Incredible Result
- Scruffy Civil Servant Warns Tax Dodgers
- BofA Said To Have Got Another Turn-Down
- Interview With Bernie Madoff
- Top Firm Dismisses Talk Of Further $10bn Writedown
- The Average British Soldier
- Top Firm Puts More Aside For Staff Compensation
- Firms On Alert As Insect 'Infestation' Crashes PC Networks
- Register Now For Free 'Old Traders Never Die' Updates
- Secretary Geithner's Written Testimony On Reform Of Financial System
- ISITC Europe Successfully Introduces New Operating Structure
- Dumb & Dumber - Incredible Details About Lehman Weekend Revealed
- The Cityboy Column
- The Man Bank of America Should Hire As CEO (But Won't)
- Goldman Needs To Give Away $1bn
- Top Firms Said To Have Lost $400m On Hedge Fund
- H1N1 Flu - Have You Got It ? (Quick Test)
- H1N1 Bank Call Center Transcript (You Couldn't Make It Up)
- 'It's Just No Fun Anymore!'
- Top Firm CEO Says He Won't Poach Staff From Rivals
- 'I Hate Recruitment Consultants' - Reader Comments
- Bohemian Bankruptcy
- 'I Hate Recruitment Consultants'
- Mack Attack - The Moment Big John Hit Back
- Compliance Training ? 'The Biscuits Were Good'
- Banker, Hire Thyself
- IT Recruitment - The Smart Way
- And Wall Street's Top Athlete Is...........
- John Mack On Saving Morgan Stanley
- Bankers Taught How To Be Killing Machines
- Banks Given Five More Days To Justify Bonuses
- Billionaire Madoff Investor Found Dead In Swimming Pool
- Top Bailed-Out Execs Averaged $18m Each In 2008
- The Vic Daniels Column - 26/10/09
Related Content
- Financial Markets Jobs Will Come Back - But Not Until...... (31/08/2009)
- 'I Couldn't Care Less About Lehman Staff' - Your Comments (16/09/2009)
- Merrill Staff Applaud At Least One BofA Initiative (04/09/2009)
- Ken Lewis's Resignation E-Mail To Staff (01/10/2009)
- Top Firm Puts More Aside For Staff Compensation (30/10/2009)
- Top Firm CEO Says He Won't Poach Staff From Rivals (28/10/2009)
We posed you an ethical dilemma. We asked you what you would do if you discovered that a close work colleague (and friend) was involved in unethical behaviour that was likely to bring your firm's name into disrepute, and damage the business.
Here's the final results of our survey.
82.5% of respondents overall said that they would blow the whistle
10.1% said that they weren't sure what they would do
7.4% said that they would keep quiet
86.3% of respondents who worked in an investment bank said that they would blow the whistle
7.6% said that they weren't sure
6.1% said that they would keep quiet
89.4% of respondents who work in asset management or private banking said that they would blow the whistle
10.6% said that they weren't sure what to do
51.3% of recruitment consultants who responded said that they would blow the whistle
13.6% said that they weren't sure
35.1% said that they would keep quiet
83.2% of respondents who work for European investment banks said that they would blow the whistle
10.4% said that they weren't sure
6.4% said that they would keep quiet
93.1% of respondents who work for US investment banks said that they will blow the whistle
4.6% said that they weren't sure
2.3% said that they would keep quiet
And here are the Top 10 firms in terms of the % of staff confirming that they would blow the whistle on a close work colleague:
1. Citigroup - 99.3% said that they would blow the whistle, 0.7% said they weren't sure, 0% said that they would keep quiet
2. Morgan Stanley - 97.4%, 2.6%, 0%
3. Jefferies & Co - 96.8%, 3.2%, 0%
4. Deutsche Bank - 95.1%, 4.9%, 0%
5. Bank of America - 91.4%, 8.6%, 0%
6. UBS - 89.1%, 6.0%, 4.9%
7. JP Morgan - 85.1%, 9.8%, 5.1%
8. Goldman Sachs - 83.6%, 10.3%, 6.1%
9. Merrill Lynch - 73.6%, 18.4%, 8%
10. DrKW - 72.3%, 19%, 8.7%
The results of this survey are quite a coup for Citigroup. It was not long ago that the company was frequently in the news after incurring the wrath of financial regulators around the world. CEO Chuck Prince then embarked on his 'Five Point Plan' to put ethics and image ahead of growth. All Citigroup's 300,000 staff received ethics and code of conduct training, as Prince made it his goal to make Citigroup the world's most respected financial institution. If ever there was an example of how leadership from the top can make a difference, the results of our Ethical Dilemma survey are it.
Citigroup's John Harker, Managing Director, Human Resources, Corporate & Investment Banking, EMEA, said that 'we are pleased that so many of our people feel empowered to escalate practices or behaviours that they believe are inconsistent with our shared responsibilities to our clients, each other and the franchise. This empowerment is integral not only to our governance model, but moreover to our company's culture around the world'.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
