Industry leaders join The BFO board to confirm importance of The BFO initiative.

Friday 30 October, 2015
The Banking and Finance Oath (BFO) has announced that four high profile industry leaders have joined The BFO Board, indicating how seriously this initiative is being taken.
The Banking and Finance Oath (BFO) has announced that four high profile industry leaders have joined the BFO Board, indicating how seriously this initiative is being taken. New board members include Dr John Laker AO as Chairman, Rob Caprioli, Group Executive Advice and Banking AMP Limited, Emilio Gonzalez, CEO BT Investment Management (BTIM) and Joyce Phillips, CEO Global Wealth ANZ.

The BFO is an initiative formed to encourage and support strong ethics in the banking and finance industry and these appointments reflect the momentum the BFO has gathered and its growing recognition across the financial industry. At a time when the industry is looking for ways to build trust, The BFO demonstrates global leadership by providing a consistent set of principles to guide ethical decisions and behaviours.

Dr. Laker brings a wealth of experience to The BFO, with over 40 years working within the banking and finance industry including roles with the International Monetary Fund, the Reserve Bank of Australia and, more recently, as the Chairman of the Australian Prudential Regulation Authority.

Commenting on his appointment, Dr Laker said ‘I am pleased to work with industry leaders to promote strong ethical standards in the Australian financial system and to strengthen the community’s trust in Australia’s financial institutions and the individuals with whom they deal.’

Mr Caprioli said: ‘In order for our industry to help Australians achieve their goals and aspirations, we must uphold the highest ethical standards to ensure we have their trust and confidence. The Banking and Finance Oath plays a critical role in achieving this and I look forward to contributing to its ongoing success’

Mr Gonzalez said: ‘I am very pleased to be joining The Banking and Finance Oath Board which places trust and integrity at the core of its principles. It is incumbent on those of us who work in the industry to lead by example and continuously strive to raise the bar if we are to earn the trust of society. I will be looking to work with other members of the Board in re-asserting the importance of an ethical foundation in the management of people’s wealth beyond regulation and compliance and taking the oath is a demonstration of that commitment’

Ms Phillips said: ‘Helping people secure their future financial wellbeing is something I am particularly passionate about and I see The Banking and Finance Oath as a way to restore credibility in our industry, by ensuring we act ethically and with the highest levels of integrity.’

The BFO would like to welcome new board members and to thank outgoing board members David Bell, Stephen Dunne (Chair) and Amanda McCluskey for their invaluable contribution during their tenure. As Chairman, Mr Dunne was a tireless champion for The BFO and for driving high ethical standards in the industry.

Mr Dunne said: ‘The BFO has and will continue to play an important role in promoting high ethical standards for the industry. It has been a privilege to work with a team that is dedicated to ensuring this happens.’

Mr Dunne will continue to work with The BFO as part of the Elders program whilst Mr Bell and Ms McCluskey will continue to support the Oath as Signatories.

The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.