Royal Bank of Scotland boss to speak at BBA annual conference
Royal Bank of Scotland boss said that the nationalised bank is being socially useful at the core of its operations, in a response to Lord Adair Turner’s accusations that the financial sector mostly engaged in socially useless enterprise.
Stephen Hester, giving his first public speech for a year, is expected to say that the financial sector has a responsibility to explain what it is doing for the economy, particularly as more and more banks are bailed out by the government. Set to speak on Tuesday during the British Bankers’ Association (BBA) annual conference, it is planned for Mr Hester to detail senior figures for the global financial services industry.
He will also give a talk on how banks can begin becoming more socially useful. By focusing on his own performance in the past year, Mr Hester is expected to detail the bank’s turnaround process after the government bailed it out and made it a publicly owned venture.
RBS is expected to rejoin the private sector soon, but to do so it will have to sell off a large portion of its assets. At the moment, banks are slowly beginning to show signs of recovery after hard times befell the financial sector during the economic downturn. Views of emerging markets’ bankers have become particularly vital to the sector as global financial regulation becomes more complex.
India’s largest private financial group’s chief executive Chanda Kochhar will be the most senior banker from emerging financial markets to speak at the BBA conference next Tuesday. India has been up and coming in the financial sector lately, and Ms Kochhar will speak on some of the policies and strategies of the market.