Investment Bankers 'Short Term' Performance Oriented
The Telegraph reported that in a recent survey by the Economist Intelligence Unit:
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84% of investment bankers said their focus was on short-term performance targets; and,
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34% said they saw themselves as "highly accountable to society at large". This in contrast with 70% of retail or commercial bankers.
It seems to me these results are at least directionally right, and what I would think most people would expect. I say 'directionally right', because I am surprised (with a little 'tongue in cheek') that the survey results were not 95% and 5% respectively.
The referenced article also reports on a survey that suggests only 10% of customers trusted bankers to act in their interests. Again, I think not terribly surprising - but a reinforcement for me that if you have money in the financial markets you ought to take as much responsibility for its management as you are able.
Topical Reference: Bankers 'motivated by short-term performance', from The Telegraph, Louise Armitstead and Harry Wilson, September 19, 2012 - reading time 2 minutes.
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