Remaking culture on wall street: a behavioral science approach for building trust from the bottom up

Since 2008, financial firms have paid, in aggregate, in excess of $320 billion in fines related to misconduct.

Nearly 10 years later, while many large financial firms have increased their attention to bad behaviour and cultural drivers, the degree of commitment and progress in these efforts has not been even across the industry.

Many organisations have attempted to curb bad behaviour through intrusive monitoring and enforcement actions which reflect a lack of trust in their employees.

A different approach is needed, one that gets at the root causes of misconduct and attempts to rebuild culture from the bottom up, with the employee at the centre.

This book emphasises the need for a change in approach, looking at the increased incidence of misconduct and culture breakdown since the 2008 crisis, how regulators have responded, and includes a series of proposals to restore that trust and reform culture.