--- title: "Reforming City Culture: The Best Banking Can Get?" description: Financial institutions can deploy technology to ensure the 'old boys club' is a thing of the past. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/surveillance-May-12-2022-09-33-56-74-AM.png --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Regulation](https://articles.marketsmedia.com/tag/regulation) - Regulation - Reforming City Culture: The Best Banking Can Get? Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 03.14.2019 By Terry Flanagan Regulation # Reforming City Culture: The Best Banking Can Get? 03.14.2019 By Terry Flanagan ![Reforming City Culture: The Best Banking Can Get?](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/surveillance-May-12-2022-09-33-56-74-AM.png) [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) **Reforming City culture - is this really the best banking can get?** *By Nick Child, Head of Product Advisory Board,* [Fonetic](https://www.fonetic.com/en-gb/) [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Nick-Child-250x250-1.jpg?width=191&height=191&name=Nick-Child-250x250-1.jpg)](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Nick-Child-1.jpg) Nick Child, Fonetic Gillette’s much talked about "The Best a Man Can Be" advert shows that even the most established brands can face perception issues in the #MeToo era. For City traders, who, ironically, were depicted in the original 1989 Gillette advert with images of guys in belt and braces high fiving and back slapping, these issues run deep. Two decades on from the original advert, and perceptions surrounding investment banking have scarce improved. The classic “old boys” club and all the negative connotations that go with it has not gone away. But unlike Gillette, the banking industry is grappling with so many ingrained stereotypes that it is going to need more than a zeitgeist ad to reform its image. Currently, stereotypes are so entrenched that a change in perception and indeed, behavior, is going to take a lot more than a change in human attitude.   This has been thrown into the spotlight by recent lawsuits against financial giants like [UBS](https://www.fnlondon.com/articles/ubs-director-faces-suspension-following-second-allegation-of-sexual-assault-20181018). While the industry has done much to try and reform its image in recent years, these incidents suggest banking’s image problems have far from gone away. This can be damaging on several levels. Not only can it result in hefty fines and legal fees, but it can also cause long-lasting reputational damage to banks, which act as a deterrent both to an increasingly ethically-minded investor and to the next generation looking to start a career in finance. There is no question financial institutions face an uphill struggle. However, this is no longer a battle that they have to fight alone. Previously, traders hoping to get away with inappropriate workplace “banter” could have done so without much effort. This was largely due to the rudimentary practices that many institutions had in place. Inappropriate, or even illegal, conversations held over the phone or sent as voice attachments to emails, could easily slip under the noses of human resources and compliance departments, who only had the systems in place to collect random voice samples, rather than monitoring conversations in-depth. In contrast, the surveillance systems available now mean that we have more sophisticated means than ever of identifying and preventing incidents of inappropriate behavior. Technology has evolved beyond just detecting keywords and terminology, it can gather context from whether words have been used within a certain proximity to others or if a variation of the root word is used. Following that, Natural Language Processing can then classify the communications based on what they are saying, and put them in context rather than just identifying the words in isolation. As a result, where workplace culture and harassment may have once been difficult to monitor for, technology has given us the means to directly point to incidents where inappropriate conversations take place over any medium of chat. Financial institutions now have the opportunity to create a workplace which is safe and welcoming to all, and have the systems in place to hold themselves and their employees accountable. Unlike Gillette, banking doesn’t need to wait three decades to reform its image, technology means they can start now. [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/reforming-city-culture-the-best-banking-can-get) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png?width=376&height=250&name=trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png)](https://articles.marketsmedia.com/eu-achieves-electronic-trading-of-standardized-otc-derivatives) Regulation ## [EU Achieves Electronic Trading of Standard OTC Derivatives](https://articles.marketsmedia.com/eu-achieves-electronic-trading-of-standardized-otc-derivatives) ISDA warns on proposed changes to post-trade deferrals regime. 07.07.2022 By Shanny Basar 2. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/iStock-522304914-Jul-07-2022-09-33-41-28-AM.jpg?width=376&height=250&name=iStock-522304914-Jul-07-2022-09-33-41-28-AM.jpg)](https://articles.marketsmedia.com/six-digital-exchange-collaborates-with-fireblocks) Fintech ## [SIX Digital Exchange Collaborates with Fireblocks](https://articles.marketsmedia.com/six-digital-exchange-collaborates-with-fireblocks) The partnership will focus on delivering an institutional custody solution for digital assets. 07.07.2022 By Shanny Basar 3. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Depositphotos_103566932_L-2.jpg?width=376&height=250&name=Depositphotos_103566932_L-2.jpg)](https://articles.marketsmedia.com/iosco-publishes-crypto-asset-roadmap) Regulators ## [IOSCO Publishes Crypto-Asset Roadmap](https://articles.marketsmedia.com/iosco-publishes-crypto-asset-roadmap) The IOSCO Fintech Task Force will collaborate closely with other international bodies. 07.07.2022 By Shanny Basar [![MarketsMedia](https://articles.marketsmedia.com/hubfs/MarketsMedia.svg "MarketsMedia")](http://marketsmedia.com) - [About us](https://www.marketsmedia.com/about-us) - [Careers](https://www.marketsmediagroup.com/careers) - [Contact](https://www.marketsmediagroup.com/contact) - [Advertise](https://www.marketsmediagroup.com/advertise) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Corporate Site](https://marketsmediagroup.com) - © 2026 Markets Media Holdings LLC - - Terms & Conditions - Privacy Policy {{ standard\_footer\_includes }}