1. Financial Services and Reputation The next five years Tony Langham Chief Executive Lansons © Lansons

2. Industry reputation Airline Automotive Banking Education Energy Government Healthcare Insurance services Investments Legal services Manufacturing Payment services Pensions Retail Technology Telecommunications Travel and tourism Tobacco Source: Opinium Research for Lansons © Lansons

3. Good reputation +64% Technology +46% Travel and tourism +42% Manufacturing +35% Retail +35% Automotive +29% Payment services +26% Education +21% Airline +21% Healthcare +19% Telecommunications +4% Legal services Source: Opinium Research for Lansons © Lansons

4. Bad reputation -16% Insurance services -16% Pensions -24% Investments -29% Energy -32% Government -36% Banking -53% Tobacco Source: Opinium Research for Lansons © Lansons

5. We still have a reputation problem TrustDo not trustNet trust Payment services 46%15%+31% Banking 31%36%-5% Pensions 27%33%-6% Insurance services 25%36%-11% Investments 17%40%-23% Source: Opinium Research for Lansons © Lansons

6. Zitah McMillan, former Director of Communications and International, FCA Reputation isn’t a communication issue PRCA: Economics of Reputation project “You can’t talk your way out of something you behaved yourself into” © Lansons

7. Impact of reputation Source: In-house Communication Directors (YouGov for PRCA) 56%45%33%29%25% Staff recruitment and retention Media coverage Influence on Government Credibility with stakeholders Marketing effectiveness © Lansons

8. Looking externally The next five years Looking internally © Lansons

9. Culture and behaviour “If you ain’t cheating, you ain’t trying” Record fines for currency market fix 20 May 2015 | Business © Lansons

10. Culture and behaviour “If you ain’t cheating, you ain’t trying” Are we shocked ? Record fines for currency market fix 20 May 2015 | Business © Lansons

11. Culture and behaviour “If you ain’t cheating, you ain’t trying” Are we shocked ? Forex continued after LIBOR known, both continued after CEO pledges that change had happened Record fines for currency market fix 20 May 2015 | Business © Lansons

12. Martin Wheatley, Chief Executive, FCA FCA on cultural change “There are serious concerns that recovery will drown out culture change.” March 2014 "This is an industry that remains in the foothills of cultural reform.” November 2014 “Fines are working…but, for us to drive change through the culture of the organisation, that is a work-in- progress.” May 2015 “What is needed is a culture that induces bankers to do the right thing, even if nobody is watching.” Christine Lagarde, IMF © Lansons

13. Energise and mobilise the workforce © Lansons

14. Britain at Work Major partnership between Lansons and Opinium Research of employees say they understand their company’s purpose and objectives 85% © Lansons

15. Britain at Work Major partnership between Lansons and Opinium Research of employees say they understand their company’s purpose and objectives 85% 46% of British employees think their own pay is fair 28% think their company bosses pay is fair BUT ONLY… © Lansons

16. Looking externally © Lansons

17. The rhetoric may change a little “Bank bashing is somethi ng we’ve got to move on from” Mark Garnier, MP and TSC Member Tory MPs demand end to banker bashing: Bank levy debate hots up after historic Conservative election victory 20 May 2015 | Politics © Lansons

18. The agenda is unlikely to change Cost of living Housing Devolution Economy Education Inequality Europe Executive pay Anti tax-avoidance Consumer protection © Lansons

19. The task for financial services is to constructively engage with society’s issues © Lansons

20. President Barack Obama, May 2015 Hedge funds "The top 25 hedge fund managers made more than all the kindergarten teachers in the country. They are society's lottery winners.” © Lansons

21. Hedge funds Industry response: "I do not recall ever hearing of a kindergarten teacher being fired for poor performance." “Instead of the Jews, it’s the hedge fund managers” “Class warfare” “You could say the same of the top 25 athletes” “We’re more concerned about the Hamptons’ season” “Did anyone even notice ?” © Lansons

22. “a leading international asset manager” “one of the world's largest banking and financial services organisations” “lends, invests and protects money” “provides costumers with insurance, savings and investments products” We currently explain what we do © Lansons

23. We need to explain what we do for society Protect people Fund retirement Help businesses Power the economy Provide personal and economic stability Provide capital for growth Make home ownership affordable Help manage risk Fund infrastructure © Lansons

24. Asset management industry under pressure Executive pay Systemic risk Contribution to society Value for money and charges Role as shareholders © Lansons

25. Connect with consumers Instant skillsPost-demographic consumerismFast-laning Fair splitting Internet of shared things Branded government Currencies of change Sympathetic pricingRobolove Brand stands E@sy streetToxic avengers Get smart Fight for your rights © Lansons

26. Take the opportunity Demographics in our favour Regulation protects us from competition from Apple and Google (to an extent) Innovation is required, and disruptors can often be bought There should be helpful debate on the political right © Lansons

27. Take the opportunity But we still need to change our behaviour and our engagement to earn a better reputation © Lansons