ECB: eurozone banks must reform culture to control ‘dominant’ CEO

By Phil Thornton
20 Jun 2019

European banks must reform their governance and compliance rules as part of a concerted effort to enact a “cultural shift” and regain the trust of their customers in the wake of a series of scandals, said Andrea Enria, chair of the ECB supervisory board.

Banks need to strengthen their boards where there were “areas for improvement” and to review how they paid bonuses, he added.

Speaking at the Conference of the Federation of International Banks in Ireland, he said: “Banks are highly leveraged institutions and crucially depend on the trust of depositors ...

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