Press Release

New York Fed Launches the Education and Industry Forum on Financial Services Culture

April 30, 2019

NEW YORK – The Federal Reserve Bank of New York today announced the formation of the Education and Industry Forum on Financial Services Culture (the Forum), a private-sector group sponsored by the New York Fed.  The Forum’s first meeting will be May 7, 2019.

The primary goal of the Forum is to provide regular opportunities for senior representatives from business schools and financial institutions to identify challenges faced by the financial services industry with regard to culture and conduct, and identify possible areas of collaboration to address them. 

“The Forum is an outgrowth of the culture work the New York Fed has undertaken over the past five years,” said Jack Gutt, executive vice president and head of Communications and Outreach.  “We recognize that for there to be sustainable cultural reform, we have to look at the broader ecosystem and a common language and understanding of the ethical challenges current and future industry professionals face. From our ongoing conversations with a number of academics and industry practitioners, they seem to share many of the same concerns, so it seemed opportune to put the groups together to work on these matters.” 

Forum members will be selected based on their relevant experience, expertise and interest. Membership will rotate over time to ensure that a range of views and institutions are represented.  There will be a maximum of 20 members at any given time, with the intention of an equal split between academics and industry practitioners.

For more information on the Education and Industry Forum on Financial Services Culture, including meeting agendas and minutes, please see the New York Fed’s website.

Education and Industry Forum on Financial Services Culture Members

  • William Boulding, Dean and J.B. Fuqua Professor of Business Administration, Duke University – Fuqua School of Business
  • William Bousquette, Managing Director and Chief Operating Officer of the Investment Banking Division, Goldman Sachs
  • Emmanuelle Bury, Chief Conduct and Control Officer, BNP Paribas USA Inc. & CIB Americas
  • Joanne B. Cuilla, Professor and Director of the Institute for Ethical Leadership, Rutgers Business School
  • Scott DeRue, Edward J. Frey Dean and Stephen M. Ross Professor of Business, University of Michigan – Ross School of Business
  • Jonathan Haidt, Thomas Cooley Professor of Ethical Leadership, New York University – Stern School of Business; and founder and director of
  • David Kirshenbaum, Managing Director and Chief Operating Officer of Corporate and Investment Banking, Citigroup
  • Richard K. Lyons, Professor, Former Dean, and William and Janet Cronk Chair in Innovative Leadership, University of California, Berkeley – Haas School of Business
  • Peg Sullivan, Managing Director and Global Head of Talent Management, Morgan Stanley
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