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Ethics and Leadership News

June 14, 2010

Bernstein Center Hosts Conference on Governance, Executive Compensation and Excessive Risk in the Financial Services Industry

The Sanford C. Bernstein & Co. Center for Leadership and Ethics co-hosted the May 27 event with Friedrich-Ebert-Stiftung.

The financial crisis of 2008/09 has brought about a wide range of policy measures, and these measures have helped to circumvent a major global recession. The crisis has also reinforced the need for structural reforms—especially in the banking and financial services sector—that still have to be addressed by governments. In addition, the crisis has shown the need for policy coordination on a global level: prudent regulation and supervision on a national level alone is not sufficient to ensure that we lay the groundwork for a sustainable growth path.

This conference, co-hosted by the Sanford C. Bernstein & Co. Center for Leadership and Ethics and Friedrich-Ebert-Stiftung, brought together the latest academic research and industry best practices on corporate governance and compensation in the financial industry as well as the latest proposals for reform and regulation of these practices. The goal of the conference was to take stock of the recent research findings and to debate the various regulation proposals—at both the national and international level—to better identify the areas of consensus (if any) on these important issues. Ultimately, our goal was to contribute to help firms and governments to craft the best policies for promoting socially responsible and sustainable economies.

Keynote speakers included Susan Schmidt Bies, former member of the Federal Reserve Board, and Henry Hu, director of the Division of Risk, Strategy, and Financial Innovation at the U.S. Securities and Exchange Commission (SEC).

Read more about the event's speakers, their presentations and related academic papers.

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Program Brochure

View the Bernstein Center brochure, Ethical Challenges in Business