OECD Report

As I have either said, or hinted at elsewhere, I was commissioned by the OECD to review Corporate Governance, risk management and remuneration in the banking sector in the UK, the US and France. My report has now been published, and can be found in full here. The same link will also take you to a shorter summary report. Be warned that the full report is over 50 pages long...

What people have said about the report:

• Insightful"
• a "pithy summary"
• "This is a strong, impressive report. Your grasp of the issues in a still-unfolding international financial disaster is not only impressive, but lends credibility to your recommendations which, taken together, are peerless. I hope that they are widely read, debated and, ultimately, implemented. I will not comment on each of your recommendations, nor your analyses and arguments in support of them, because there would be nothing substantive that I could add."
• "I have to read about risk day in and day out on the day job so for balance I prefer to read about other topics. But ... I made myself read it and I am glad I did. You paint a valuably comprehensive picture, and propose many innovative solutions."

I would welcome your feedback and thoughts as to how we can take the debate further.

Also, go to the OECD's website to see what else they are doing on the governance front.

Myners and boards

I think Lord Myners comments on boards are well worth reading. See here.

I am not sure about having a "Devil's Advocate" in that sounds a bit like having someone on the board just to be contrary. But I do agree that we need to do something about creating a counter-balance to what I have described elsewhere as the "red-blooded, testosterone-charged" CEOs of this world.

I would be interested in feedback