The new Banking Standards Board has announced the practitioner and non-practitioner figureheads who will make up its number.

The independently-led organisation, financed by the banking industry, is charged with helping to raise standards across the sector by identifying shortcomings, recognising progress and signposting the need for further improvement.

The board will report publicly on its findings and build on the work of the Banking Standards Review, which was conducted by Sir Richard Lambert during 2014 in the wake of the Parliamentary Commission on Banking Standards.

Unveiling the new board, its chairman Dame Colette Bowe, said: “Banks recognise the urgent need to raise their game and build the necessary momentum for change. It won’t happen overnight, and it will be an uncomfortable journey, but the time has come to win back trust.

“The new Banking Standards Board is made up of expert and committed people, a cross-section of civil society and professional expertise, all determined to shine a spotlight on competence, culture and patterns of behaviour across the whole banking industry,” she continued.

“Through concerted, collective action, the board will support and encourage sustained change for banks operating in all areas of the market – retail, investment and commercial. That change will be equally relevant to incumbents and challengers, and to banks and building societies.”

The 14 board members are:
Non-practitioner members
Dame Colette Bowe, Chairman
Lord (John) McFall, Deputy Chairman
Sir Brendan Barber, Chair, ACAS
Gillian Guy, Chief Executive, Citizens Advice
Paul Johnson, Director, Institute for Fiscal Studies
Baroness Onora O’Neill, Chair, Equalities and Human Rights Commission
Lady (Susan) Rice, Chair, Chartered Banker: Professional Standards Board
The Rt Revd David Urquhart, Bishop of Birmingham
Alison Cottrell, CEO designate, Banking Standards Board
Practitioner members
James Bardrick, Chief Country Officer for the UK, Citibank
Craig Donaldson, CEO, Metro Bank
Alison Robb, Group Director, Nationwide
Antonio Simoes, CEO UK, HSBC Bank
Clare Woodman, Chief Operating Officer, Morgan Stanley International

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