Salz Review - Wall Street Journal

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195 Salz Review An Independent Review of Barclays’ Business Practices To develop newfound trust in our banks, customers need a better understanding of what they can expect from banks; employees need a better sense of what it means to be a good employee of a bank; leaders need a better sense of what both their customers and employees expect from them – and they need to be held to account. This will be a journey in which open dialogue and shared experience of continuous improvement will count more than pronouncements. Employees and customers must have a voice that is heard and leads to a new and better banking experience. Alignment, learning and systemic reflection: Developing a global universal banking model which works will not be easy. The proposition involves uniting people with very different cultural and professional backgrounds around a common framework of values. At the heart of getting this right will be a culture that emphasises systematic induction, careful promotion, continuous personal and professional development and systematic review and reflection. When learning stagnates, the old constrains needed evolution. Induction, first promotion and on-going personal and professional development ensure cultural awareness and stability. Systematic and regular independent review ensures that stability is maintained, but necessary change is thoughtfully pursued. In organisations, we systematise culture by the way that we share a collective sense of purpose; through how we develop new services; through how we develop people to do their work through socio-technical systems; through how we communicate our successes and our failures; through our systems of performance management and reward; and most notably, through the people that we chose to hire, promote and to fire. There is both power and danger in systems in that we can easily forget the purpose for which they were designed. Organisational culture needs to be reviewed and challenged by its adherents to ensure that the assumptions upon which it is based are still suited to the environment in which the organisation exists.
167 127 169 265 232 63 189 78 286 133 295 Salz Review An Independent Review of Barclays’ Business Practices 196 Appendix C – Complaints Statistics Total FSA-reportable complaints of Barclays Group and other main UK banking groups, H1 2010-H2 2012 Total FSA-reportable complaints (thousands) 900 +39% 800 700 600 500 400 300 308 295 267 294 455 427 200 100 0 H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 H2 2012 Barclays Group - General Insurance & Pure Protection Banking group B Barclays Group - Other Banking group C Banking group A Banking group D Note: Total complaints data comprises complaints in 5 categories (Banking; Home Finance; General Insurance & Pure Protection; Decumulation, Life and Pensions; Investments). We identify Barclays Group’s General Insurance and Pure Protection complaints as a proxy for PPI complaints. In the case of a discrepancy between complaints data reported on the FSA website and another bank’s website, we used the data reported on the FSA website Source: FSA complaints data, company websites, Salz Review analysis Barclays Group “banking” category FSA-reportable complaints per 1000 accounts, H1 2010-H2 2012 “Banking” category complaints per 1000 accounts 8 6 -55% Barclays Group 4 2 6.5 5.6 4.0 3.7 3.8 2.9 0 H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 H2 2012 Note: Data for Barclays Group , of which on average 97% of complaints reported are against Barclays Bank Plc . Complaints data falls into 5 categories (Banking; Home Finance; General Insurance and Pure Protection; Decumulation, Life and Pensions; and Investments) dominated by Banking and by General Insurance and Pure Protection. Figures for complaints per 1000 accounts are reported by individual complaints categories only, without overall figures. We use Banking as a proxy overall, as total complaints data is skewed by PPI complaints. Banking category refers to credit cards, current accounts, savings (including cash ISA) and other banking accounts and unregulated loans Source: FSA complaints data, company websites, Salz Review analysis
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Salz Review - Wall Street Journal

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