Finance industry 'years' from rebuilding trust

John Kay, author of Other People’s Money, says industry structure and incentives must lead to new generation of specialist firms.

John Kay, author, academic and contributing writer to the Financial Times, told a Hong Kong audience that the finance industry has years to go before it rebuilds trust.

Kay was in town to promote his latest book, Other People’s Money, and to remind us that the finance industry spends very little of its time on what the public might perceive as its proper role payments, financing housing and infrastructure, funding retirement and supporting new business.

Instead, most financial companies spend their time trading among themselves, for their own profit, and at arm’s length, with old-fashioned relationships relegated to the dustbin.

Regulation since...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222