This study of some of Europe's largest financial institutions describes the major transformation in board activity has occured since the financial crisis began. It is based on interviews with chairmen of many of the leading banks and other financial institutions across Europe.
The top priorities for boards now include: risk management; succession planning for top executive posts; improving the structure of executive compensation; and ensuring that boards have an appropriate mix of skills and experience in order to meet the increasingly rigorous demands of corporate governance.
Higher demands are being placed on directors, both in terms of time commitment and technical expertise, and deep knowledge of financial issues has become an essential prerequisite for board directors in the financial sector.
All these changes indicate that bank boards are putting themselves in a stronger position to steer their organisations towards sustainable, long-term growth, and help restore stability and faith in the financial services sector.
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