Bankers 'should have their own Hippocratic oath'

People in banking and financial services jobs should be forced to agree to an ethical pledge similar to the Hippocratic oath performed by doctors, it has been suggested.

Speaking to the Scottish parliament, Angus Tulloch, joint managing partner at First State Investments, said such a move would be an easier and more effective way of improving the sector than enforcing further regulation upon it, reports the Scotsman.

Mr Tulloch said that those in banking and financial services jobs, along with investor and companies, had become sucked into an "extreme short-term outlook" to the detriment of the sector.

He suggested the banking oath should read: "I will strive to achieve, through hard work, sober analysis and sound judgment, the best risk-adjusted return for my clients possible."

Earlier this week, City minister Lord Myners said that people in senior banking jobs should be striving to improve the state of their balance sheets ahead of worrying about how large their bonuses should be.

Updated: 08 February 2010.
Categories: banking-and-financial-services, market-and-industry-news.