A compelling argument for why stewardship of wealth and service to others should be our highest financial priority Stewardship is the journey of financial insider John Taft towards understanding and affirming the importance of stewardship--which he has come to define as 'serving others'--as a core principle for the financial services industry, the global financial system, and society atlarge. By defining the attributes of authentic stewardship, this book presents a path forward by analyzing the success of Canadian banks in weathering the financial crisis; evaluates the effectiveness of global financial reform efforts in making the financial system safer, sounder, and more secure; offers wealth management prescriptions for individual investors; evaluates the potential of ESG (environmental, social, and governance) investment processes as a way to instill stewardship behaviors among corporate CEOs (particularly at financial services firms); and, ultimately, calls for a return to stewardship's core principles as the key to not only minimizing the scope and consequences of future failures, but also to addressing other societal challenges. Argues for a return towards stewardship, with financial services companies doing right by their customers Analyzes the response of Canadian banks to the financial crisis to provide meaningful advice for investors and businesses alike Inspired by Taft's experience running one of the largest wealth management firms in the country during the financial crisis and his direct participation in subsequent legislative and regulatory efforts to rewrite the rules under which the U.S. securities industry operates From the man who made the unprecedented decision to reimburse clients affected by the collapse of a money market mutual fund comes acompelling look at why financial service companies should start doing what's right for their customers. INDICE : Introduction Chapter 1 Core Principles: The Ground Beneath Our Feet Interlude: Learning from Failure Chapter 2 Finance Run Amok: Selfishness Trumps Stewardship Interlude: Occupying Wall Street Chapter 3 Stewardship Defined: Feeding Your Flock and Not Yourself Interlude: Greed, Glorious Greed Chapter 4 World's Safest Banking System: Canada, the New Switzerland Interlude: Americans are from Mars, Canadians are from Venus Chapter 5 Making the System Stronger: In Defense of Dodd-Frank and Basel III Interlude: Too Small to Save? Chapter 6 Making the Investor Safer: In Defense of New Fiduciary Rules Interlude:An Obligation of Honor Chapter 7 To Investors Standing on the Wings: Prepare for the Next Crisis Interlude: Predatory Volatility Chapter 8 Environmental, Social and Governance Investing: Could it be the Answer? Interlude: It's a LongLife Chapter 9 Communities, Caring, and Commitment: Reconnecting with our Stewardship Responsibilities Appendix A EU Financial Reform Appendix B Basel III Regulatory Accord Appendix C Creating a Clear Path Forward Notes Glossary of Selected Financial and Regulatory Reform Terminology Author's Guide to Supplemental Readings Additional Sources Acknowledgments About the Author Index
- ISBN: 978-1-118-19019-7
- Editorial: John Wiley & Sons
- Encuadernacion: Cartoné
- Páginas: 224
- Fecha Publicación: 14/03/2012
- Nº Volúmenes: 1
- Idioma: Inglés