Thank you very much if we have discussed and agreed that you are to be a Speaker at one of our events. Here is what you need to know:
Unless special arrangements have been agreed, your speaking slot would be for 20 minutes of presentation + 5 minutes of Q&A. The Q&A is very important to help ensure the event is as engaging and participative as possible; so please only prepare for 20 minutes of presentation and do your utmost to stick to the time frame allocated so we do not over-run.
Please let us know straight away if there are any times of day that you will not be able to present so we can create the programme and the running order of the speakers accordingly.
The items we will need from you ASAP
It is important that we have the following items from you ASAP. They are listed in priority order:
The relevant items above will be incorporated into the web page we will produce for the event. Here's a good example of the outcome we're after:
We will produce a PowerPoint slide that will have details of your name, job title and organisation on it. Beyond that, you are welcome to also produce PowerPoint slides for your presentation. Please note that the format for your slides needs to be PowerPoint, not a PDF or anything else, and please use Standard Size i.e. with an Aspect Ratio of 4:3. Let us know if that is going to be a problem for you ASAP. You are very welcome to incorporate animation into your slides if you wish. However, please do not incorporate audio or video unless that has been arranged and agreed with us (in case the venue we are using for the event is unable to reproduce audio or video). Also, please do not assume there will be a strong internet connection at the venue. Let us know if you need one as part of your presentation. We will provide a clicker to use at the event.
Please email your slides to email@example.com at the very least 2 days before the event, so we can combine them into the main slide deck. If that time frame is going to be a problem for you, please let us know ASAP.
Payment to attend the event
The Transparency Task Force desperately (very desperately) needs to raise funds to operate effectively and sustainably, so please pay the normal attendance price for the event if you can.
However, if that is genuinely beyond your budget please pay however much you can afford up to the standard ticket price; there is no minimum for speakers so you can be the judge of that.
Of course we will be delighted to deal with any queries that you may have, so ask away....and thanks again for wanting to participate at one of our events.
The Great Divide
You can read the speech by Andrew G. Haldane, FAcSS (the Bank of England's Chief Economist and Executive Director of Monetary Analysis and Statistics) that he gave on 18th May 2016 at the New City Agenda Annual dinner.
The speech is entitled The Great Divide and it is a first class explanation of why the trust deficit really matters and why it makes sense to try to do something about it.
Please click on the green button to access it; if you're not convinced of its relevance to our initiative, here's part of it:
..."The most important and compelling message the Bank received at the Open Forum came in the first session. The Bank had conducted some polling of perceptions of the financial sector – for example, by asking people what one word best described the future of financial markets. Among the Bank’s usual contacts, including those in the financial sector, the most used word was “regulated”. Many of us will have heard that message from financial insiders concerned about the perils of over-zealous regulators.
For me, the more revealing responses came from the general public, from the customers, rather than the producers, of financial services. The word most used by them when describing financial markets was a rather different one: it was “corrupt”. Not far behind were words like “manipulated”, “self-serving”, “destructive” and “greedy”. I am sure many of you have heard those messages too. They are certainly ones I have encountered frequently on my visits around the country."...
Please click the green button below to access the full speech. If you need to read another piece first, here it is:
..."At least until recently many economists like me, when faced with this evidence, might have shrugged our shoulders. Social capital had no real role in our models of economic growth, unlike physical capital and human capital. Trust did not butter our parsnips and nor did it enter our production functions.
Recently, however, that orthodoxy has changed and the importance of trust has become clearer.
Evidence has emerged, both micro and macro, to suggest trust may play a crucial role in value creation. At the micro level, there is now ample evidence the degree of trust or social capital within a company contributes positively to its value creation capacity.
At the macro level, there is now a strong body of evidence, looking across a large range of countries and over long periods of time, that high levels of trust and co-operation are associated with higher economic growth.
Put differently, a lack of trust jeopardises one of finance’s key societal functions – higher growth.
Those social capital effects appear to be particularly potent when it comes to financial decisions. Evidence suggests that a lack of trust leads people to retreat from the stock market and banks and to move towards cash holdings and informal sources of credit, such as payday lenders and loan sharks. That jeopardises the second key benefit of finance to society – improved risk-sharing by households and companies.
So a lack of trust in finance potentially hobbles both economic growth and financial stability.
That lack of trust is the mirror-image of the perception gap between the financial sector and wider society, the Great Divide.
The Great Divide matters because it signals a pronounced and protracted erosion of social capital. It puts finance on notice for losing its social licence. And, unaddressed, that jeopardises future wealth and well-being."...
Please click on the green button to access the full speech. If you're not yet convinced you should, here's a final snippet:
..." As a survey in 2013 of financial professionals found, rather remarkably, that over half believed their competitors engaged in illegal or unethical behaviour. A smaller, but still high, fraction of 24% believed their own company engaged in such practices. Similar percentages believed their industry did not fulfil its fiduciary function of putting clients’ interests first.
The significance of these findings is not the precise percentages, as striking as these are.
More fundamentally, it is because of what they reveal about finance’s perception of itself, the mirror it holds to the social identity of finance."...
Click onto the button below to access the full speech; you'll be glad you did, it's profoundly thought-provoking for anybody interested in the future of the financial services industry:
If you are not already on the right page and want to read about our major international project to help rebuild trustworthiness and confidence in financial services, click on the orange button below: