Union representative on new Banking Culture Board to call for "real, meaningful change"

Issued : 15 April 2019


Gareth Murphy, Acting General Secretary of the Financial Services Union, called for a process of "real, meaningful change" as he took his place on the new Banking Culture Board.

Speaking from the launch of the board this morning, Mr Murphy said:

"I am pleased to take my place on the Banking Culture Board, where I will be a voice for our members, working for a sustainable banking sector in Ireland. "

"Our position has been that the majority of the Banking Culture board should be from outside of the main retail banks, and that banking staff should be represented by their Union, the FSU. We are pleased that this has come to pass."

"The board must now begin a process of real, meaningful change. A failure to deliver will lead to further cynicism from a sceptical public, who frankly are already punch drunk from scandals."

"A process of real, meaningful change means examining how a truly sustainable banking sector can be created in Ireland, delivering fair outcomes to customers, communities and staff. Put simply, short term shareholder gain should not be the sole influence over decision making. The broader societal interest must be paramount if the sector is to avoid the mistakes of the past."

"One example of the many changes we will be pressing for as part of an overall transformation is in the area of sales pressure."

The FSU has been the voice of staff in banking and finance for more than 100 years. Our presence is felt is hundreds of workplaces everyday, across over 50 employers. We collectively bargain across the main Irish retail banks, and all this gives us unique insight into banking culture. No change is possible without the active involvement of our members, and we are committed to a sustainable banking sector delivering fairly to customers, communities and staff."


Click here https://irishbankingcultureboard.ie/reports/ 

for Public and Stakeholder Consultation Report and Irish Banking Culture Board Employee Survey 2018