Welcome everybody and yourself,
of course. OK, everybody,
welcome to this UM session and
it's about meet the CEO and uh,
in a moment I'll welcome
our guest Alex Sanchez,
but I welcome each and everyone of
you to this opportunity to hear about
in this conversation with Alex to
hear about the role of the banker
and the the attributes required.
So, uh, welcome to you all the.
Florida Bankers Association.
As you can see on your screen,
I think there a of which Alex
is the President and CEO.
So the Florida Bankers Association and
Bangor University were formed before my time.
Before Alex is time before
The Beatles time were formed.
In the 1880s,
I believe within a few years of each other.
And although we didn't know of each
other's existence at that time,
we certainly do.
Now we're getting closer and Alex is
coming over for a couple of weeks in.
About a month's time to work with
us here in Bangor University,
uh, so some similarities in terms
of our origin in terms of dates,
not quite similarity in terms
of our temperature.
I did look it up.
They're slightly warmer than
we are at the moment.
Whether you measure it in
Fahrenheit or degrees centigrade,
and I know that many of you who are
attending today will be from places
which are much warmer and less
windy and stormy are than we are.
Financial services over the decades
has been through a few storms.
Uh, we've all.
Regardless of what industrial
sector we're in,
we've all been through a stormy
time during the COVID-19 pandemic,
and this is an ideal opportunity
for us to hear from Alex about
his own background about the
Florida Bankers Association,
their view of what it takes
to be a responsible banker,
and at the end will be an opportunity
for you to ask some questions, which.
You can pop into the chat area and our
colleagues will be monitoring them,
and then I'll draw them in at the end
when we have a question and answer session.
That's enough now as a
general welcome specific.
Welcome to Alex.
Now it's a few years since we were able
to meet pre pandemic travel restrictions,
but as I say Alex is coming
over in a few weeks time.
The bio of Alex is on the screen
there and I hope you can see it and.
Welcome Alex,
do you wanna say a few words about
about your own route to be coming down?
Anything on a pick out from?
The Bible Radition Steven it's
great to be with you and and
the team at Bangor University.
Of course,
the students looking forward to our
conversation today and to the students.
I really welcome your questions.
That's what mixing is exciting for
me to be here today with you and then
hopefully in a few weeks at the university.
But, you know,
it's great to be with you.
Thank you for inviting
me and I look forward to
sharing our thoughts this morning.
That's right, 'cause of course
it is this morning where Alex
says I'm where some of you are.
It's heading towards the evening but
regardless of whatever the time is,
the message that I'm sure Alex is gonna
bring to us is going to be very valuable.
Alex started out in a legal background Alex.
And how come how did you migrate into
financial services and Bankers Association?
Yes, you know I I practice
law and then actually was the.
Deputy General Counsel for one of our banks,
uh, and, uh and and so was with a bank and
then with time this opportunity came up,
which is, I think gonna be part
of our discussion about you.
Don't know where your the roads are
gonna take you when you graduate
from school and earn your degree.
Be open to the opportunities in the
in the adventure and the journey.
And so this position came open
and always enjoyed banking.
I think you know always enjoyed the industry.
Bankers make dreams come true.
They're the ones who provide the capital
to make people homeowners who allow
them to buy or start a business is most
people don't have capital to do that,
they need to get it from somewhere.
And one of those places are our banks.
Globally,
that's what bankers around the
world have in common.
And so it's an important role
that all the bankers play.
All of you on this on this Microsoft Teams.
Uh, call and and uh,
so that that's how I got here and,
uh,
I have the honor and privilege of
seeing bankers and working with
closely with them and seeing what
they do every day for our economy.
Great,
OK and then just a little bit about the
role of the Florida Bankers Association.
We, you know, uh, in you know,
our primary role is to advocate two things,
one for the industry and for
a strong economy.
And so we we meet with regulators.
We meet with the members of our
Parliament or Congress to advocate
why they should support proposals,
legislative proposals to allow our
bankers to better serve the communities and.
And customers they serve.
And that's important because,
uh, you know,
policymakers don't always understand
what impact a a law or regulatory uh,
item might have.
And and taking banks away from the
ultimate goal of serving customers,
enhancing their economic vitality?
Because that's what the banking
industry does where we're supermarkets
are in the business of selling food.
Banks are in the business of lending money.
To help people fulfill their dreams.
Right,
absolutely I love that idea of
bankers make dreams come true because
in marketing terms it's it's not
actually the the the immediate
product is what it achieves for them.
Afterwards you talked in there about
advocating for for the industry and
also arguing for a strong economy.
And I know that you've been on
the Advisory Board of Eximbank
in Washington and you've told me
that you traveled to Washington.
Doing a lobbying capacity in in the USA.
What's the the role of
regulation of banker behavior?
Because it would be nice to believe
that everywhere around the world
bankers would behave in the best
interest of their end customers.
But of course from time to time
it requires regulation and Anna,
a fairly strong arm of regulation.
How is it there with you?
Is it different in Florida?
Other specific Florida regulations?
Or are they all for the whole of the
states there? They're basically.
You know, Florida does have, you know,
some different regulations and other states,
but generally speaking Steven,
it comes from Washington,
so it's all applied to all the
50 states of the United States.
But you're absolutely right.
Look, this is a regulated
industry and it should be.
It should be regulated the the money of
the people or deposited in our banks.
And you know,
so it needs to be regulated.
The question is,
is there a tipping point where
it's too much regulation?
Where bankers then are hiring more lawyers
and more compliance staff than lenders,
which is what the business of banks is.
Uh, I I will point out.
So even that I I'm envious and
I've always been a big fan of
the Chartered Bankers Institute.
Uh, in in the UK and I know there are many,
many countries around the world because
you know it sets the tone it sets.
It allows the public to know that
you're dealing with a chartered
banker and what does that mean?
That means that someone who has
been educated continues to perceive
education and training to be on the
cutting edge of of the latest proposals,
laws, regulations, and ethical standards.
So I think that is so so important.
I wish we had that here in the United States,
but I I see that as a very important
public policy issue by the Chartered
Bankers Institute.
And I know many of the countries represented.
On this call on our part of that,
and I think that's important,
I really, really do great.
Well, of course, that's a.
That's a that enthusiastic endorsement
which wasn't actually prepared.
Everybody should know, you know,
we haven't.
We haven't practiced this,
but is is great because,
as most of the people in this
webinar today will know,
although some of them may be guests who
are thinking about joining our program,
the Chartered Banker,
MBA leading to chartered banker status.
That the the CBI Chartered Banker
Institute is our partner.
Our professional partner here
and Alex has some links directly
with with CBI as well.
What would you say Alex has some of the
desirable attributes or skills or behaviors?
Because as you say there's regulation
and there's a tipping point.
Too much regulation and it's
all about lawyers.
Your previous profession, solely of course.
So I won't.
We won't use the phrase of.
Of a poacher turned gamekeeper,
or whatever the phrase is that
that's used in in in English, UM.
About some of the skills can can.
Can customers just rely solely on
banks being regulated or is there
that we need innovation? How do we?
How do we get responsible behavior?
What kind of skills and behaviors
do we want in our bank?
'cause globally, not just in the US,
not just in in the UK and Wales?
Well, you know, great question Stephen.
Look number one for all the bankers.
Uh and and uh on this on this briefing.
A look. You're the trusted
advisor to your customers now.
Some of you may not have direct
contact with customers and and and,
and that's OK,
but you're supporting those at your
bank that do and and you're probably
called on whether you're in compliance.
Whether you're in marketing with
whatever part of the bank urine.
You're fulfilling the mission
to help those that are serving
customers be the trusted advisor,
and that's important because customers
are depending on our bankers for advice.
Hey, should I buy this home?
Should I you know, based on my income?
Do I qualify for this mortgage?
Should I take on this mortgage
which is a house that's priced
higher than I budgeted for?
What do you think? What's your advice?
And that's so important when
our bankers advise clients?
A look, do this.
Do that and wealth management to you.
Know you you worked all your life,
you're you're now 59 years old.
You're thinking about your
nest egg for retirement.
You're looking for a banker, which is
what I've always recommend to the public.
Go to a bank or someone
who has reputation risk.
If you go to John Doe financial advisor,
who's John Doe?
What if he advises you wrong?
What if you go to his shop the next day?
He may be closed not at a bank.
A bank has reputation risk.
They're going to more likely
than not be around, uh,
and so you are the trusted advisor.
And and whether it's regulation or not,
you don't need regulation
to be that you you need.
It needs to become internally to
fulfill that role to help your
clients fulfill their dreams for
themselves and their families.
That's right,
I mean,
I think the point you you've used
there about having a relationship
with an organization that has
its own reputation at risk and
therefore they ought to behave in
a manner that's beneficial to you,
the customer to themselves
as your trusted advisor.
And the challenge for us in the financial
services industry around the world is to get,
as you say,
get it so that these values
are internal to the person,
not just because they look at
her list of regulations and go.
2.4 says I mustn't do that,
and it's about how we how we get
people to absorb those particular.
UM, those particular skills.
In the news yesterday,
I think it was on the day before.
Certainly this week it was reported that,
uh, it's only one example. UM,
and it's an allegation that Credit Suisse,
the very large Swiss based Bank of course,
and as a country, Switzerland prides itself
on its professionalism and banking was under
investigation by the European Parliament.
One of the political groupings there
with a view to alleged money laundering.
The thing about.
Reputation as you say,
of course Alex says it's hard to win it,
but very quick, potentially to lose it.
Exactly Stephen look and and and in a
nanosecond you worked all your life.
You've got a great reputation and and
that's when you have ethical violations.
You're absolutely right, see,
but you can lose that in a nanosecond.
And so you gotta do the right thing.
And you know, we have global,
you know anti money laundering
laws and and and.
And you can't sweep it under the rug.
I mean, if you know, I think whether it's
law enforcement or a bank or whomever.
If you're helping someone hide money, uh,
and and it's not ethical, it's not legal.
It's not morally correct.
You you know it.
As the banker, you know it,
and you've got a report that
because you know it, it it.
Just you can lose that reputation so quickly.
So personally and institutionally,
and you know,
Switzerland is always, as you said,
prided itself on being a
country where you know,
you know there were no rules.
Or if the rules were different there,
well, you know every dog has his day
Steven and and they're having it now.
And that institution is is in that country
and their privacy laws are in deep,
deep, serious question.
Yes, unfortunately they are and
nobody takes any pleasure from it,
I'm sure because they're there,
but for the grace of God.
Go go I if I don't pay attention
or if my institution doesn't behave
in a in in a professional manner,
I'm gonna ask Dan Danny if he can
just share in place of my picture,
which is rather boring.
And of course as many people will
say is Bangor really does that like
that with palm trees and blue sky?
And the answer is of course it is but Danny.
Can you just share the the image of
that I sent of the United Nations?
UM, slide about banking, responsible banking.
Here we go testing our technology
and OK there it is OK and other
principles for responsible banking that
the font is a little small in size.
It talks about customers and clients
and it talks about these six principles.
They're at the bottom is transparency
and accountability,
and the aspect the variety of stakeholders
I wanted to ask you a little bit about the.
The central column.
The central column talks about
impact and target setting,
and then at the bottom it talks
about how governance in A and
regulation but also culture.
And I want you to ask you is there a
tension in your experience,
your opinion between target setting
for people to achieve certain targets
for their organization for their
own remuneration and perhaps career
development and the culture that
we set in an organization because.
You've been talking about reputational risk.
We need personal and institutional
ethical behavior. You know, you know.
Look, come, there's many ways to
look at this, but this is how this
is my answer to this question.
See even look if you're advising
your client you, your client is
paramount again within all legal,
moral, and ethical boundaries.
So as long as you stay in those boundaries
and you've got to advise your client about,
you, know the purchase of this
property or their tax scenario.
And tax laws in every country
are very complicated.
I see nothing wrong.
If you have a client and in
whatever country you're living in
and there's a deduction of up for
their taxes to lower their tax.
No responsibility and burden.
It if if that if your country's parliament
passed that and that became the law,
there's nothing wrong with
advising your client.
Hey, look,
don't forget to take this deduction for
this expense that you had last year.
That low is your tax burden
for the coming year.
There's nothing wrong with that.
You are within all legal and ethical
bounds because you need to advise your
client on what is best for him or her.
So I I think there there is no.
Clash of those two in advising
your and then the governance and
culture boundaries on long as
you stay within those bounds,
you know I use taxes as an example.
Steven 'cause it's always complicated.
It's always you know,
taxes everywhere you know.
Then there's a million exemptions
to the rules and it's just being
smart enough to find those as
a trusted advisor that bankers
play in the role that they play.
That's what you need to do.
Advise your client.
As to what's best for him or her so
I don't see any conflicts at all,
as long as you stay within the
legal and ethical bounds of of the
regulations and laws of your country.
OK, great,
I want to pick up on something that's
on the Florida Banker Association home page.
You can see I've done some homework
and I had it in case I need to
use it and it talks about.
The banks and the individuals that make
up today's Florida bank as association
and by extension, all banks and the.
Chartered Banker Institute etc.
Have learned from the past and are
committed to making the future brighter.
And of course that that goes back to bankers
making dreams come true for their customers,
being trusted advisors etc.
I wanted to ask you in terms
of preparing people.
For careers in financial services,
wherever they are in the world.
The the idea as to whether or not
it's a one time a set of education
or or the principles and the ideas,
which perhaps I'm sure the Florida Bankers
Association as we do here and with the
CBI it talks about lifelong learning.
I you know Steven look uh to to all
the students on this call look my
advice on your careers is this one?
Uh, kudos to you for being at Bangor
University and get your your executive
MBA that that's a testament either to
yourself or to those at your bank who
believe in you and ask you to attend this
great program and and continue to do that.
Learn all that you can.
As you rise in your career,
and so always, always,
anytime you have a chance to,
to to receive training.
Whether it's a formalized training like
Bangor University or other training sign up,
don't don't let that pass.
That's number 1 #2 and this may
go beyond your questions even,
but to for success this is what I recommend
to all all the attendees on this call.
Volunteer volunteer Stephen.
If the CEO or senior management at
your bank says I need someone to do
this or to move to this market to
open up a brand new office for us,
who in the group would like to
volunteer to do that?
Raise your hand,
raise your hand.
And volunteer because people like that
and uh and and don't be afraid to rise.
You know, you know.
Obviously don't don't step on anyone as
you go up the ladder because you never
know when you're gonna need people.
If you go down the ladder of life so.
Rise to your marriage without making
anybody else look bad, obviously,
but don't be afraid of that, uh,
because that you know it's it's it's.
It's OK to be promoted.
It's OK to have a vision for your career.
It's OK for you to dream about being the CEO.
There's nothing wrong with that.
And and you preparing yourself
whether you know and there's there's
a couple of tracks in banking.
If you're a lender at a bank,
you have a very good chance of one day
being in senior management because.
Bankers that know how to lend money
are usually the ones who become
the CEO's or the executive vice
president or whatever the title
is in your respective country.
Those in the financial part of
a bank can rise to be the Chief
Financial Officer or the
control or the bank and and
and again you know, you know,
dedicate yourself to this industry
as you are, because it's a,
it's a noble one and then the last category
that I can think of is the compliance.
Area very important area in our industry now.
Perhaps it wasn't 20 years ago,
but if you're in compliance,
imagine being the Chief risk officer
of a bank or the Chief Compliance
officer because you know the regulations
and you know how to navigate a
bank through the minefields of the
regulatory laws and regulations in
your particular country so you know,
but volunteer, volunteer and get training.
Those are essential items.
For your progress at your institutions
or other institutions.
Yes indeed and dumb you you correctly
characterize compliance as a as
a growing a aspect of financial
services and a minefield because
for every example that comes up
that a legal jurisdiction wherever
it is in the world prosecutes,
then new sets of guidelines come out.
And that's an example of the need to
have lifelong learning to be picking
these things up as we go along.
I'm just going to ask Danny to share
one more slide and then Alex and
I will will conclude and see what
the questions look like so well.
Danny's ahead of me there.
He's got a slide up called
the responsible banker.
Inasmuch as there were only two
slides when I said the next slide,
it was gonna be that one.
But thanks Danny, here we are.
This is from the Chartered Banker Institute,
the professional partner of our MBA,
the Chartered Banker, MBA.
And mentioned in glowing terms
by Alex a little earlier.
They talk about the responsible banker,
the banker,
who is aware of technology
and digital aspects,
and hasn't that come to the fore
during the COVID-19 situation when
people couldn't physically get
to banks and things or to stores
in general the ethical banker,
as Alex has been emphasizing the
sustainable banker and I just wanted
to touch on on two of those aspects,
Alex and ask you for your thoughts
on sustainable banking, of course.
Is a very hot topic at the moment.
That is an increasing emphasis
in our Chartered Banker, MBA.
Sustainable banking may be thought to
be just about the green environment,
but of course it's much more than that.
And I was reading an article
recently that talked about the
idea of reputational risk that
you referred to earlier.
Alex organisations are at
risk banks financial lenders.
Our at risk if I lend money to Company B,
even if I am completely ethical and
in compliance with the regulations in
the part of the transaction that I do.
If that organization then goes
out into the wider world as part
of its everyday operations,
the organization the the,
the party that borrowed the money
and damages the environment
as something unethical,
there is,
by extension a little bit of mud that
sticks to me as the person who lent to them.
Or the institution and
then the future banker.
The future banker picking up on
those United Nations finance
principles for responsible banking?
You're right, it's a complicated
world as you said, and a minefield.
Any thoughts on sustainable banking?
Yes, you know it's even.
This is where.
And this is an issue that we're addressing
in the United States now and and and
for our global systemic risk banks,
the top 50 in the world.
I believe they play in a
different sandbox on that issue,
but but generally speaking let me let
me address it as an industry look.
I think bankers.
Yes we we have a major role in society.
We're the ones who make the economy go.
I will be in Tunisia,
Steven in May as they establish a
credit Bureau in their country and
we're going to help the bankers there.
In the implementation of the
of the of the credit Bureau,
because you know they haven't had it before,
where they can see the FICO
scoring of each customer.
So see what risk they have,
whether they should be lend money or not,
because remember at the end of the day
we're so well regulated that you know
you have to make a loan that can be repaid.
Otherwise the capital the bank decreases,
and that's where the banks
generally get in trouble.
But look.
On the sustainable banker issue on the future
banker on the digital banker ethical banker,
yes,
you have a major role in society to play and
I would encourage all the bankers on this
call to get involved in their communities.
You know, join one or two,
a charitable,
a non for profit organizations
and get involved.
Give back to your community and
and whether it's a hospital board
or whether it's some other non
for profit organization to help
those who are less fortunate.
I think bankers do a great job of
giving back on the sustainable banker
your specific question on the environment.
This is where I differ with many.
Uh, that you know,
want our bankers to be the climate police.
Uh, I urge our our government
in the United States.
If you have a problem.
If you wanna change the laws
on the on those industries that
depend on the fossil fuels,
pass a law making it illegal to
bank the fossil fuel industry.
The bankers should not be put in the in
in the position of being the climate police.
That's not your role.
That's not the role of our industry.
The bankers should be the one making the risk
management decisions of whether to a bank,
someone or be not bank that one.
The government shouldn't tell them.
Yes,
bank them, no,
do not bank them.
And if the if the government
wants to make fossil fuels and
and those industries that depend
on fossil fuels illegal,
they should pass a law on that.
That should not be placed
on the shoulders of our
industry. Because we're not the climate
police and then we have to hire incredible
compliance staff that quite frankly,
some of our medium sized banks and smaller
banks may not be able to afford that our
larger worldwide global top 50 banks.
Yes, they probably can't afford it,
but other members in our industry cannot.
So that is, you know my position on that.
But I do think the bankers
have a role to play.
And it starts right there in your
local community where you reside.
You gotta give back.
You gotta be an ethical
banker and and and you know.
And obviously digitally you gotta understand.
Because for many this is becoming
more and more the bank branch.
This little smartphone where you
do all your banking services.
So there's a lot of responsibilities
on our bankers shoulders right now.
But one that I do not want.
To add to the list of responsibility,
Steven is for our bankers to be the climate
police because I don't think that's our role.
OK, I think that's very clear
and many people would agree.
As you said earlier,
you want you want a compliance, then a pass.
The regulations laws.
I'm minded of a song by Joni Mitchell.
Maybe not all the delegates in the in in the
webinar heard Alex and I talking beforehand,
but we Alex is a big fan of The Beatles
and I was using a song by Joni Mitchell
a couple of lectures ago, which I will.
I briefly saying that says they pay
paradise and put up a parking lot,
and of course,
that's an anthem about environmentalism,
and it led to as a response,
not solely UM, not solely Joni Mitchell,
but it led to.
New regulations in the states also about.
Handling, pollution and all sorts of things.
So yeah,
I think I I'd agree that passed the
regulations and the compliance area
that we've said is growing in global
financial services will ensure that the.
Their organization works through it.
Well, everybody it's at 1438 UK
time and that means that, uh,
I'll ask Alex in a moment if he
has a specific anything specific.
In addition,
he wants to say,
but building on that link from The Beatles,
The Beatles song goes.
It's been a hard day's night and we're
gonna move from the hard day's night,
not of listening to Alex but have
of coming out through COVID and
hopefully coming into the uplands
as the regulations ease and.
Alex,
any final point you want to make
before I open it up to some questions?
Yeah, I do.
Steve and I do,
and here's my advice from working
with bankers for many,
many years that because globally
this happens everywhere,
and so you know this is a relationship.
Business yes, you know digitally.
You gotta be ready and but at
the end of the day,
relationship banking is important
and fulfilling your customers needs.
But for you,
the individual banker relationships
also matter.
So our industry has been and will continue
to have a lot of mergers and acquisitions,
activities and it's no fun going through
an M&A at your bank because it your.
The tensions go up, the stress levels go up.
You've got two banks merging together who's
gonna stay as the director of marketing.
Who will say as the Chief Compliance Officer,
will it be you or her as the two banks
merge so you know these are the stressful
things that happen and and they're going
to continue happening in our industry
no matter where you live in our world.
So what's the solution to this?
Make sure you have relationships.
In our industry with and have as many friends
as possible, it's important, uh, you know it.
You know, giving back.
Give back to our industry,
give back to the industry that
provides for your livelihood,
meet with other bankers
from other banks you know.
Because that's how that network
that you create or serve you.
Well now I'm talking about you individually,
not as an industry.
In case there's an M&A at your bank.
And in case you know your your.
You lose the battle as to who's gonna be the,
uh, the person employed after
the merger takes place.
Uh,
and and and you better have a rolodex where
you can dial up people and say hey look,
is there a position at at your bank
and and having those relationships
will serve you well for your career,
so that that's my, you know,
because I'm in as are going to
continue to have it happen as
our as our banks consolidate.
And I think that's sometimes bankers.
Forget that you know you obviously take
care of the home front of your family,
but also give back to your community.
It's a lot on banker shoulders.
It's a lot, personally,
but you know,
take care of your family,
give back to your community.
But also network so that you will
have the support team personally and
individually in case you need to have it.
Because our industry continues to merge and.
And obviously, when that happens,
there's some downshifting that occurs
in our employee base of our banks.
Yes indeed.
Thanks for that and just in the
responsible banker slide from the CBI.
It said continuing professional development.
We've talked about that and and
perhaps we can coin a new phrase
if it doesn't already exist.
Based on Alex's contribution about
continuing professional relationships,
yeah,
'cause you never know what's gonna happen.
Of course,
the role of being able to speak
to others in your industry,
which is an important thing for
the Florida Bankers Association.
But it's also something that Bangor
University wants to do through its alumni.
On this program,
to facilitate that that exchange
and interaction,
let me go to the questions
and ask a question up.
I'll post it on behalf
of Aaron Osborne Taylor,
who asks the question.
Can non specialists can non specialists
gain access to senior banking roles?
You know, I, I yes they can, I mean,
but at at the end of the day,
you know you know, whatever you do, you know.
And whatever you do,
whatever your role is, do it the
best possible ways and you'll be it.
You know as a CEO I will tell you you
notice that you notice that, uh, you know.
We have people on our team that have
more general, non specific roles.
But you notice the job they're doing.
So whatever role you have,
do it the best possible way.
So that will make you stand out
as an excellent team member of
whatever bank your organization.
You are currently in.
But having said that,
it by training by training at Bangor
University and other places in in
back in your respective countries,
you know if if you can specialize and
learn more about a specific area or two.
That's not a bad idea either.
Uh, again, whether it's financial,
whether it's compliance or or,
whether it's in lending,
uh and and those, those.
Of three primary areas that I think,
uh, you know,
any bank executive worth their weight in it.
You know,
in success what will have a good handle on,
and so you know it's not a bad.
You know it's good to be a generalist,
but it's also good to learn some
specific areas within a bank as well.
OK,
thanks for that and just a general
invitation to people in the call up.
Put your questions into the chat
area so I can read them and and and
sit through them and pray for them.
But also as in a moment I will
ask Claire for her question.
You can put your hand up just
before I go to Claire.
The idea of giving back to your
industry to society at large.
I often say to our graduates from
the Chartered Banker MBA program
and what are you going to do with
all this time now that you've got?
That you used to do for studying
and some of them go.
I'm gonna go studying further.
Well that's excellent as well
and some of them go.
I need a rest and I say don't
forget your family and friends.
But also don't forget what else
you could do with that time.
The kind of things you've been
saying Alex about giving back
through charitable work or whatever.
Now in the discussion is good for business.
It's good for business to Steven
it's good for business when
you're involved in the community
and you're the volunteer head of
the local Chamber of Commerce.
Or you know the.
You're on the hospital board.
You're well,
you you help disadvantaged children.
People notice that and people like to
do business with people they like and no.
That's a general rule that
applies anywhere and everywhere.
Yeah,
and I think that was course that's not
just restricted to to financial services
before the webinar kicked off,
Claire made the very brave claim,
which I'm sure is substantiated that she is
related somehow to being a a Beatles member.
Claire, if this is a question about
The Beatles and this is not the venue,
but go ahead and ask your question. Claire.
Oh, OK, it's not about The Beatles and I'm
a human resource management academic, Alex.
I couldn't miss the opportunity for
coming in and listening to what has been
a really interesting and presentation,
so I'm really glad that I kind of
hopped in and to this presentation
and just from my perspective,
an area of interest for me is
recruitment and changes in the type
of employee that are recruited.
And I read some research
recently that said that you know,
over half of millennials, UM,
have some form of crypto investment.
And I just wondered, UM,
is this sort of driving change in the
type of employee or skill set that you are
interested in as an industry in recruiting?
You don't, you don't.
Clari crypto is one of those great
a cocktail reception topics.
It it it it just it gets
peoples attention but you know,
and you've seen the ups and downs if
you ask Elon Musk when he you know
got out of crypto right in the nick
of time before 40% market value.
A decline you know crypto is one of
these topics that until the I'll use
the UK and the US but.
Really,
all countries until a certain form
of cryptocurrency is blessed by the UK,
US and other countries.
It's just a lot of good chatter because
because of the anti money laundering
laws and the Bank Secrecy Act,
governments want to know.
Where is the money going and
who's getting it?
And they will never allow the
transfer of any type of currency,
whether it's crypto or real,
to be sent from London to you know
Santiago Chile without knowing who
is the sender and who is the the
recipient of these funds and and right
now currently in the crypto world,
the governments don't know that so
and it's more difficult to know so.
Yes, we've got to monitor.
You know, the crypto issue,
but as it relates to the millennials,
you know,
look millennials have other needs
that outweigh their knowledge.
And like for crypto one,
you know they like the working remotely
issue at least part of the time.
They understand it's not good for
millennials to be home all day,
because then if you're not seen at the
office by those who supervise you,
you know your chances of moving up in.
In management ranks is reduced
so that you know, but yes,
they are interested in more free time.
They're interested in more.
Perhaps like I mentioned,
remote working maybe a day or two a week.
So if you're trying to recruit
a millennial into your bank,
that's one of the promises that
you can make to
them that I think they'll like very much.
They also like banks who give socially back,
so bank or any corporation I have found that.
Here in the United States,
when millennials are interviewed,
there are questions are what
is the bank social policy and
giving back to the community?
They like to be involved in that,
yes, they're interested in money,
just like all of us are.
But they're also interested in
making sure that the banks are
fulfilling as a corporate citizen,
their role in giving back to those,
perhaps that are less fortunate or
more needy. So there's many other,
you know, but the the the.
The free time issues a big
issue for millennials.
They want that even at the
expense of of salary, sometimes,
at least until they get older.
Claire is what I have found here in
the United States and our marketplace.
Thank you.
Thank you so much Alex, does that help?
Does that help you?
Absolutely, absolutely.
It's really good to have
your perspective on it.
I think the the, UM,
the impact of COVID will be interesting.
I was reading just before we came online,
UM about a company here,
which is effectively a share trading company.
I can mention the name,
it's in the public domain is called
Hargreaves Lansdown and the share
price has fallen dramatically because
it's now realized that many of those
people who during COVID working from home,
filling their time with different things.
We're making investments of various
kinds through the platform set up by
Hargreaves land sound people as they
return to work in more conventional ways,
have less time to do that.
It's expected they'll be less
Commission earned by by Hargreaves
Lansdown share Price falls.
You know it's a it's a wide ranging impact.
We're going to see for a long time now.
Here's the question.
You know it's even like as
far as working from home.
This is what I tell, uh,
you know,
uh,
our folks here in the United
States when I talked to the teams
that at different banks look,
you know, working from home.
It's not all it's cut out to be.
I think we as human beings,
misty interaction of seeing each other,
let me walk down the hallway to discuss this
deal with Mary and get Mary's thoughts.
You know, I think that that is
priceless and I think that's.
It's missing in, in addition to,
you know hey hey Joe,
Mary and and uh,
Bill,
let's have lunch today to discuss this issue,
discuss this deal and and you
know you can't do that through a
zoom call or Microsoft Teams call.
You gotta do that in person and
I think it's more valuable to
do it if there's not any.
No other way,
but through a zoom call or Microsoft Teams
called then you have to do it that way.
But I think you know and then.
You're at home, you,
you're missing the human interaction.
I think we need that.
I think that's part of our DNA, so.
But anyway, Steve, I just wanted
to add that next question please.
Yes, I think that's right.
And of course I have found since we
have gone in what we call in Bangor
University to dynamic working that
it's actually been a pleasure to meet
some colleagues who haven't seen who I
never expected it would be such a pleasure.
They're not in this meeting,
so we're quite safe.
And I shall mention their name.
There's a question here from Gilbert
Gilbert who asks about could you
say a little bit about how ESG,
environmental, social and governance is
the hot topic relates to banking fraternity,
and he particularly says in the future, yes.
G. And the future of banking is
Gilbert question.
Now remind me what is ESG,
environmental,
social and governance criteria in terms of
how how we manage investments and things and.
How companies are performing?
Should I invest in somebody who has excellent
returns but is completely poorly performing
with regard to the green environment?
The social aspects for society as a whole?
You know,
look excellent question and
again you have a fiduciary.
You know fiduciary obligation is
is very important in our industry
and other professions as well.
But again your fiduciary obligation.
You're not the social police,
you're not the climate police.
You're not you're.
You know we need to depend
on our governments,
and our governments can't kick
the can to the banking industry.
To put us in a position to
be any of the above.
I mean if if our respective governments
that are represented on this call
want to pass a different policy,
they should, but they shouldn't
put that on the backs of bankers.
And again,
you know there's a big debate here in
the United States now you know look,
we all want a clean, safe environment.
Of course we do look at Florida.
How beautiful it is and we
want to keep it that way.
But but should our bankers be
telling you know their customers hey?
Don't invest here because it's not
green or I will not lend you money
because you're not agreeing company.
I don't think that's our role now you know,
do we want polluters and all that?
No, of course not.
But as long as it's a legal
company and a legal industry,
I think our bankers have to use
that at the end of the day,
as the barometer and the ultimate test on
whether they should deal with that customer.
I obviously,
if an industry or.
Or or profession is not legal.
We're not going to bank them.
We're not going to lend the money.
We're not going to advise them in any way,
shape, or form.
But to put that on the shoulders
of bankers is a cop out and a
kicking the can away from our
respective governments.
A very clear statement there,
which, uh, uh, Alex, uh,
probably explains why.
Uhm, uh, I won't say you're popular.
Well, you're popular,
popular with some politicians
when you go to Washington.
Now, Alex, everyone kindly offered
to extend his time yes beyond the one
hour and I've just seen Danny that
on my screen at least it's popped
up that our our link will terminate.
It'll be about four minutes now
I'll be able to extend that.
Danny yeah, it's not going to end, it's just.
And just to say that the hours come
into to a close, but it's a very cool.
The recording will continue
for those who aren't here yet.
Well, but thank you.
OK, now there's another hand up up.
It's a bit like a classroom hands
up in the classroom and Matt Allen,
another academic colleague from the
Business School, has a question.
Go ahead Matt. Thanks Steven and May.
Thanks Alex for your presentation and
your answers that you've given so far.
I've really enjoyed listening
to what you've had to say.
Sort of teach strategy,
so I wondered if you could say a
little bit more about what's driving
the mergers in the banking industry,
and also if there are any other
tips that you might have,
but people who work in the industry
in addition to you know,
making sure that they maintain
and extend their networks.
You know what?
The skills they might be thinking
about in quite acquiring or what
might be good for them to acquire.
If there are quite a few sort of mergers
acquisitions going on within the industry,
you know Mac,
excellent question and and and this is 1.
This is one you don't learn in in school.
I mean,
there's so many subjects that you
know Steven and his colleagues are
trying to infuse onto you and and
and this is one that you know in the
school of Hard Knocks you learn if
you've been to a mergers and acquisition and.
And you were the one left out
out on the street.
You realize that it does take a village,
you know.
No man, no woman is an island to themselves.
You've got to have relationships
in this world,
so I would encourage you to get involved in
groups like the Florida Bankers Association.
You know whether it's the
British Bankers Association,
whether it's the alumni this class,
this class,
staying in touch together,
I'm helping a student now who's
a Bangor University graduate in
our industry to to get a job.
Somewhere else within his bank,
and I'm using my contacts here in the
United States to help him because
he has stayed in touch with me.
You know, we had a student.
Who lives in Liverpool now?
He's practicing law.
He was a law graduate.
He spent a week with me in Washington
and I invited him because we
stayed in contact and I took him
to our Congress and he met many
of our Members of Parliament.
So you know,
staying in touch with people
is number 1 and reaching out.
You know meeting colleagues and
usually these are at, you know.
I've worked with the
Tanzanian Bankers Association,
the Kenyon Bankers Association,
the wand and Bankers Association, you know,
and and they have meetings and I would
encourage you to get involved there.
And that's where you meet
people in your own profession.
If you're not a banker and then in other
areas in other professional groups,
so that's important as why do we
continue to have M&A's in our industry?
Well, because banks always have the dilemma.
How do I increase my footprint and
market share in a marketplace?
They have two ways of doing it.
De Novo branching of just opening
up new branches a in a,
in a community,
or buying someone else and getting
that footprint instantaneously
by buying someone else.
And the latter is usually how
most banks choose to do it,
even though that's a very
expensive way of doing it.
So just stay in touch with people.
M&A's are gonna happen.
They will continue to happen and
it's personally rewarding to you.
Create new friendships, uh,
and, uh,
and and and a broader social network.
And by the way,
it's not just for you to get help,
it's also for you to help others as well.
And you may be the one aiding others,
so that's a good thing too.
Thanks, Alex.
There's a couple of questions come up.
One of them from Hidili and says
with respect to entrepreneurs
entrepreneurs seeking capital to fund
their projects in your own view,
is it more feasible to approach
a sources other than banks due
to the strict criteria required
by banks in general for funding?
You know, great question.
And imagine Bill Gates,
the founder of Microsoft along with
some of his friends and his parents.
A car garage back you know 40 plus years ago.
Imagine if he went to get a loan at
the bank and said and asked Mr Gates.
You're you just dropped out
of Harvard University.
You're you're 20 years old and this
is software that you're creating now.
Is that soft? Do I wear that softly?
Is that what this is?
And he said no, no, no, no.
This is the brains that goes into
a computer that makes it operate.
That's what I'm working on in my
parents garage and I need $100,000 loan.
Uh, you know?
Uh, so sometimes it's difficult
for bankers to put this in a box,
but you gotta believe, look,
one of the most richest.
Persons in the world.
He's the owner of the Jacksonville Jaguars,
which is a National Football League
team here in our City of Jacksonville,
FL.
Mr Shack and Mr Chicken was an
engineering student from Pakistan at
the University of Illinois's in in in,
in the state of Illinois's.
Here in our state,
so he went into Busey Bank and I
know this 'cause I have lunch with
the Board of Directors at Busey
Bank in Champaign, IL's and they.
They continue their friendship with Mr.
Shere Khan,
who's again one of the wealthiest
people in the world.
Here and uh and and and globally.
Uh,
and he went in Steven to ask for a
loan because he had an idea for a car part.
So here's an engineering student
from Pakistan walking into a locally
owned community bank in Champaign, IL's.
And guess what?
They gave him the loan because
they believed in him and they
believed in his honor.
His idea,
and that's what I would encourage
all bankers to keep an open mind.
Mr Chicken still keeps accounts there.
Now he's got banks monies and global
banks around the world and he's you know,
melted mega wealthy.
But he still believes in that bank
and visits that bank occasionally,
because that's who gave him.
His start,
they believed in him so believe in
your customers, get to know them,
get to know their ideas.
Think out of the box.
But yes,
it is difficult in our industry
because we're well regulated and
the and at the end of the day your
examiners are going to go into your
bank and look at your loan portfolios
and say why did you make this loan?
And you gotta explain that so,
but keep it open mind.
Great question though.
Great question and I I think
a great example that you gave
of this of Mr. Chacon who goes was an engine.
Sure engineering student Pakistan
and somebody there could see merit
beyond just doing the numbers.
So it wasn't solely managing by the numbers.
There's a question that builds on something
that you said you waved your mobile phone.
I'll wave mine. It's not a competition but.
We we talk about digital banking and dumb.
Of course, in many of the things
that we use our phones for,
we have friends and we've got many. You know,
I've got many followers and friends. No,
actually you haven't got that many friends.
They're they're,
they're just acquaintances.
And the question from Muhammad Adelabu is,
could you say a little bit more about digital
banking and how this is going to impact,
particularly with regard to relationships.
You have quite rightly.
But emphasized Alex and it's one
of the things I talk about in
the marketing strategy module.
The benefit of a relationship for both
parties is that going to be as easy to
achieve without face to face interaction,
is it going to be easy as easy to
achieve using mobile technologies?
Do you think you know?
Look, you gotta do both?
You gotta do the click and the brick
as they say you gotta have brick.
You gotta have a branch.
You gotta have an office to show.
People look, you've got a problem.
You can come see me.
But yes, more and more you know, even me.
I use this.
I transfer money within my accounts
without even going to the bank.
You can take take a photograph of
the check and deposit it and you
don't even have to go to the bank.
It's amazing what can be done
with this smart phone,
but I will say this if I have a problem.
And guess what I'm gonna do?
I'm not gonna get on this it's my money
it's my hard earned money and I'm gonna
go to the bank and say what is going on here.
Let's fix this thing and and so you you know
you you I know who my personal banker is.
I called him yesterday.
My bank just merged and I was
having problem getting online.
I called him.
I didn't go see him but I was thinking
about it and I called him and said
fix it I need you to fix it and.
And so I know his cell number.
I know his office number and uh,
and he fixed it for me,
'cause I I didn't have access
to my accounts online,
but that's just one example.
So yes, online is important.
It's great, but at it.
And then if I'm a business
owner and I have an issue,
you think I'm gonna care
about getting online?
No, I need answers and I need answers now.
And and if I have a business
loan with your bank,
I have a lot at stake.
I I don't want somebody to tell me,
get online and fix it.
No, you better come see me or I'll
see you and I need answers den and
now so relationship banking will
continue to be vital in our industry.
Yes, but do both.
This is also important too.
Great, that is perhaps an unintentional
link into the next question.
Alex, how these things come up fortuitously,
Maggie McGarry asks, UM,
as mergers and acquisitions continue,
how do you see the future of
digital banking with particular
regard to artificial intelligence,
artificial intelligence
and how that's innovative.
Yeah, it's been increasingly
a form of competition being
considered by mainstream banks.
What will that do to relationships,
you know, but you won't be able to
phone up in perhaps quite the same way.
Or will there always be a role,
even if you can't see them face to
face for a relationship manager,
you know, I,
I think that there's limits to everything
depending on what your needs are.
If you're just a vanilla,
if your needs are vanilla,
plain old vanilla, sure you can get
online and and open up a checking account,
a savings account, but but again.
You know, uh, you know.
That's nice, but but banks are not
going to make any money on those customers.
Where do banks make money?
Just like the supermarket in
the in the United Kingdom?
Tesco?
How do they make money?
Well if they don't sell food they don't eat,
they don't make any money.
How did bankers make money by
having deposit accounts and savings
account that just offers banks
liquidity to to do the ultimate
transaction that a bank wants to do.
And what is that?
Make loans, make loans to you and I.
Charging us an interest rate.
That's how banks have made money
and now through wealth management
services through brokerage
services and other type things.
But at the end of the day,
most banks make their money by lending money.
So digitally, you know.
Yeah,
they'll make some loans but and and and
and do you really want to get a loan?
If you're buying your first home,
do you really want to do it just digitally?
Don't you want to sit down with a trusted
advisor and go over your finances and say,
look, I make?
You know $100,000 a year and I and
and after taxes my my salary is X.
Can I afford a monthly payment on this
home that my spouse and I want to buy?
Those are things you gotta sit in person
and get feedback and have a conversation.
It just can't be.
Just get online or have a chat on the
chat line on the digital bank space.
Well, there will be some people
who are satisfied with that,
but with the biggest investment in your life,
whether it's starting a business
or buying a home,
I suggest to you.
As bankers,
you need to do that in person and I'd
say the same thing to the consumer.
That's right, of course.
Different customers for different
financial needs. Because we have
a plethora of different needs.
If it's a simple transaction, maybe I'll
rely on just a a web based platform.
I'm going to use my power to insert
myself in with a question, how, what?
What thoughts might you have Alex
on somebody I perhaps don't have a
position after my bankers merged,
which is something we've been talking about,
so I think here's a new entrant.
How about I go and work for them
and we did speak in the preparatory
sessions before today a chase is
making a big play here in the UK and
in there I'm looking on the web page.
At the moment our story.
They say introducing Chase,
did you know that millions of banking
customers in the US already trust
chase to look after their money?
You can bank on US 56 million
digital customers in the US and
now we're launching in the UK.
To offer rewarding banking,
it's a promise to every customer.
So that's that's chase making
a big play up for a new market.
What about the opportunities for
somebody's career of of joining
a new entrant?
Are there risks associated
with joining a new player?
You know,
look as you rise in the
management ranks of banks?
You still you still have it,
but it's becoming tougher and tougher to find
a banker who's been at one bank for 25 years.
So yes,
there will always be risks,
but you you have to do your due diligence.
And that's where relationships
with other members in our industry
is important as you segue from
1 institution to another,
not you don't want to do that too many times.
But if an opportunity is given
and I know Chase is opening up
a digital bank in London.
And in the UK, uh,
I saw the interview with Jamie Dimon,
their CEO recently.
Here in in the states,
a look that may offer opportunities that
that that you should take advantage of.
Whether it's in the UK or wherever,
whatever country you're from
and are currently living in.
So I I think keep an open mind,
do you due diligence?
Do not be afraid to take
calculated risk in your favor.
You know, yes, we all get you know,
fat, dumb and happy and satisfied, uh?
Wherever we are because you know
it's human nature but you know it,
it might jolt us a little bit and making
that career move and and I can tell you it.
It's exciting, it's exciting.
And and it's something that you
really need to closely look at.
If it advances your career,
but you know you have to be cautious,
you don't want to be seen as
a job hopper either.
But you you know 'cause you want
to be committed to and be loyal.
Be seen as someone who's loyal,
not hey someone offers me 5000 pounds.
I'm jumping ship, uh,
no,
no, you don't want to be in that position.
'cause you you got to be satisfied
with the work place you know
you got to the personally.
If you're happy where you are,
you know it's not all about the money.
It's not just about the money you
gotta be satisfied that you're
recognized for your contributions
and in in your current workplace.
And if you are and the money is not bad,
you know what I stay there.
But if you see a great opportunity
that that recognizes your talents,
look that happened in my career before I
joined the Florida Bankers Association.
I was an intellectual property
attorney and I did, you know,
70 page intellectual property agreements and.
It's something I enjoy to do,
but it really wasn't me a when
I joined the banking industry,
more of my skill sets were used in this
position than in my previous position,
and after doing the due diligence,
I decided to join the banking industry.
Great, I mean,
I think that's an interesting
application of the term due diligence.
Normally we might think in
financial services.
Did we do?
And you say your bank examiners come and say,
did you do due diligence?
Too many dies there?
Did you do due diligence on this
company before you lent to them or
this person before you lent them?
But equally you did do due diligence
for yourself before you move.
I'm gonna move on from all the DDS.
There's a question here from Steven.
Who says Alex?
Will third-party credit decision
making tools ever replaced banking
relationships and he goes on
to say as banks get to do more
and more regarding compliance,
which indeed we've spoken about
and the need for it,
I'll finish the question.
But Alex has already got a card for
us to look up as banks get to do
more and more compliance work and get
less time for relationship management.
Do you see an opportunity
for third party brokers?
Over to Alex and his card.
Here in my hand is the 23
commandments of lending that I
wrote during the financial crisis,
on what type of loans to give or not to
give and to that specific question that is,
banking 101 risk management
I where banks got in trouble.
I remember talking to bankers during the
financial crisis in 08 twenty 09 2010.
Many allowed the credit decisions.
To be made by that third party and
that third party did not have the
credit standards at that bank had and.
And that's really other than getting
a a a fine or regulatory order because
you had anti money laundering lapses
in your program internally at the bank.
The only other way banks getting
trouble is not by marketing the wrong
piece or or or some other issue.
It is by lending money to and
those loans go South as we say.
And become troublesome,
and people do not repay.
And that's usually when the economy also
tanks. And at the time you made the loan,
that loan was good.
But keep the credit standards within
your institution where banks have used
third parties to make those decisions.
Long term, it has not worked out and and
you know and and and and what I recommend
all bankers to do globally is have a
loan committee have a loan committee.
To look at loans have a debate within
yourself within the bank and critique your
colleagues who are originate Ng that loan.
If you're on the loan committee,
or if you don't have a loan
committee at your bank,
create one you know of four or
five people to discuss each loan on
whether it should be approved or not.
It that's the type of of attention
each loan deserves,
because as they say in New York,
Bada bean bada boom, you can't.
You just can't approve these things.
Uh, quickly, uh, really?
A lot of due diligence and thought
has to be put into it.
'cause that's the most important
thing a bank is doing is lending
its capital out to third parties.
And you want to use your own
credit standards?
Well,
I'm not quite sure what the
Welsh equivalent is of mother
been badaboom in New York,
but I think as I mentioned earlier on
the Florida Bankers Association homepage,
they talk about learning from the
past and the example that Alex just
gave their of talking to bankers
after the 2008 910 financial crisis,
which is the global crisis.
Of course was you get into trouble
if you give other people who perhaps
don't have using a phrase that.
Alex used earlier,
they don't have a reputation to
lose in quite the same way the
bank has the risk of losing its
reputation and you're only as good
as your last piece of publicity,
negative and word of mouth as
we draw things to a close,
I can see in here that.
Somebody
asked a question and it's been
answered by Lisa from the Chartered
banker team here at Bangor.
Are the short courses that banker has
that can build somebody a chartered
banker into a fintech expert.
Not overnight necessarily, but Lisa answers.
Yes, there's a banking technology and fintech
module that you can take in isolation.
And a adenike yes,
by all means discuss this offline with Lisa.
Thanks, Steven,
I just saw a question pop up.
Someone and then it went away.
I I I don't see the question now but.
I I OK I I see them all, uh,
and one of them from Lenore says
it might be this one if that's if
it just popped up a Lenora says,
are we seeing a pattern of banks
using forced nutrition to manage?
Emanate the pressure of cost
management causing attrition?
I presume perhaps lanore,
do you mean about the attrition in
terms of the human resource or what?
Just clarify that a little bit
then or in the chat area,
please.
Yes, OK, so perhaps that's the one
you saw pop up and then disappear.
Are we seeing a pattern of banks
using force nutrition of their
human resources to manage merger
and acquisitions and the pressure of
cost management causing attrition?
I think you've touched upon that.
When you say there will be some
people who don't find a new role,
and if it's difficult sometimes they
could see it as an opportunity.
Any last thought on on you're
faced with a change in your career?
Perhaps an ideal question to
draw things towards a close.
You're faced with the change because
of a merger and acquisition.
Some other reason, uh, and uh,
how do I step forward from that?
You know,
Lenora excellent question and let
me tell you what I have shared
with bankers here and what I've
viewed here in our marketplace.
But again, this is, I think, globally.
So you have a merger.
Most of these banks are publicly traded
so they have shareholder pressures.
Analysts on on the stock market.
Whether it's the Footsie,
whether it's a DAU or weather.
Whatever stock market is of
of the country you're from,
there's pressure to to,
you know,
bring both banks together
efficiently and show the analysts
that the merger is working at that.
You're you know, you know.
Bankers use this trademark.
How efficient is the bank and and
you know they they don't want to be
overstaffed but not under staff,
so they're trying to find the right
combination.
But at the end of the day, yes,
when you do have mergers.
Uh,
there will be people that will
be let go because you you can't
have two sheriffs.
Uh,
on on board there's only gonna
be one uh in each category.
So what does that mean?
But look in our industry,
the the the the skill sets are
broadening so that it just isn't for banking.
Those skill sets and your developed.
So let's take someone in compliance.
You can go work for another industry
because at the end of the day.
You know about compliance and you
know how to learn about compliance.
You may go to the medical profession
as a chief compliance officer for
a hospital or for Medical Group.
Or you may work for you,
know Amazon or you may work for
another company or another industry.
If you're a financial person.
If you're a controller and you're
doing or you're the Chief Financial
officer in a in a bank mergers and
there can't be 2 chief financial officers,
you can be the Chief Financial
officer for another company.
And and take that opportunity.
I hate for you to leave our industry,
but I want you to do well.
And so you've got to,
as we mentioned earlier,
do the due diligence and look out
and and abroad to see how you
can be enhanced.
Because of this merger and the
fact that you've been left out.
And and unemployed.
So which is a position that none
of us want to be in?
So I think the skill sets that
are being developed in our
industry are not just for banking,
but they're for other industries as well.
And and. But I want you to stay in banking.
Don't get me wrong,
I want you to be there,
but if the circumstances arise
and you gotta make that decision,
do what you need to do.
OK, and I think that's very
relevant in the field of higher
education as Bangor University is.
Of course we we say to our students,
these are very rarely so narrow.
The skills and insights that we're
giving to you that you can't transfer
them and Alex there has given some
really good examples of being able to
transfer across two different industries,
not least of which was an
earlier question about.
All industries are being measured
these days by those ESG,
environmental, social,
and governance criteria.
OK, one last question here and
then we'll draw things to a
close and Anika says Hi Alex,
your statement brought this question to mind.
Most bankers have just one skill set
apart from those in specialized fields.
How can we diversify?
Especially those who spent most
of their career lives in banking.
Well, that's probably a good one
to draw things to a close on Alex.
It it is and let me tell you
what I've also experienced.
You know, I've seen bankers.
Uh, you know, leave our industry and
they told me Alex I'm moving on.
I'm going to join a tech company.
I'm gonna join.
You know what?
Whatever the example was that
they were leaving,
you know what they came back because
once a banker, always a banker.
They miss being a banker.
They miss sitting down.
If they were a lender.
Making the dreams come true
to to that family,
saying you can buy that first flat.
You can buy that first home or here's
the capital to start that business.
They missed.
That banking is a noble cause it is magical.
It is wonderful what our bankers do.
We get a lot of critics in the
media and I deal a lot with the
media and and and politicians and
they like to slam our industry.
But you know what?
Our bankers are no different than
any other professional industry.
We need to get paid, so for our services,
uh,
I mean you can't go to a dry cleaning
store and give them 10 shirts to
dry clean and not pay them for that.
Well the same thing would have a bank loan.
If you get a bank loan,
you gotta repay it because people
do not understand how well regulated
we are and and if the banks capital
is really being reduced because
you got to write off that long
'cause people don't repay it,
the regulators may close the bank
down and then everybody loses their jobs.
So you know it's an important role
that banks play in our society,
and it's a noble one and and I have
found that bankers have missed it
when they have left the industry.
So uh, but again, you know,
keep in this ever changing world
that we're living in, you know,
always if you have any opportunities
for training, take it.
But in our changing world,
the skill sets that bankers have
learned and will continue to
learn now are being applied to
other industries as well.
More and more so you know and again,
I encourage you to stay in our
industry but keep your options open.
Great and as we draw things to our clothes,
it's great to be able to see
in the chat area that different
delegates are saying to each other.
Well,
if you want to pick up some of these skills,
come on the cebpa,
which is not the sole purpose of
having this this session with Alex.
But yes indeed come on to
the sub, can broaden your toolkit just
to close things down before I thank.
Alex, for his great insight,
the one of the things he said earlier on,
was that Florida bankers exist
for advocating for the industry.
And there was a comment that came up that
we didn't have a chance to to look at.
I'll just go back to it and it says it was in
the discussion we had about how to how to.
Fund entrepreneurs and the great example
of the owner of the Jackson Jaguars
that Alex shared with us of Mr Chan,
who went into a small bank.
Somebody said earlier.
Unfortunately, bankers may be enthusiastic
and willing to try to do these things,
but the systems don't always allow them.
Now that may well be true,
and of course, as Alex has emphasized,
we exist in a regulatory environment
around the world.
Subtle differences.
But at the end of the day,
uh, to protect customers
and one of the things that.
Florida Bankers Association does
and the Chartered Banker Institute,
our professional partner here in the
UK is they advocate for industry.
If there are situations where
bankers would be willing to do
things but find that the systems
the regulations don't allow them,
then the these associations and
institutes are there to help us all.
And that's why it's important to,
as Alex said, maintain your networks.
It's not just a relationship
with an individual colleague,
or perhaps in a different bank.
It's about networks CB,
MBA wants to be that source
of networking for our alumni.
It also the Chartered Banker Institute.
Our professional partner emphasizes.
Please stay in touch with us afterwards
so that you can keep up to date with
all the things that we're finding out.
And Bangor University and the
Chartered Banker Institute want to
be the knowledge source for y'all
and to be able to exchange ideas.
I'm then,
as the Florida Bankers Association does,
Alex said advocate for change so
that things can be better for
all the stakeholders and he,
Dillion says networking globally is key.
And I'll use the.
Statement from medallion that says great
session Alex has been a great session
on the on the screen as I see it.
I see Alex smiling as as I've always
known him over the years and there are
three individuals there who are from
Nigeria Saint Helena and from Trinidad
and Tobago and they talk there about
the CB MBA program being real life.
Relevant revolutionary gain.
Help me to gain confidence and
come away feeling inspired.
Says UM Josephine from Saint Helena,
and I hope all of us.
I certainly do come away from this
session with Alex feeling inspired
and there are always challenges out
there that see them as they size.
Idea of not a cup half empty but a
cup half full or a glass half full.
I should be going to recharge
my coffee shortly.
I look forward to sharing coffees
with you in a few weeks time.
Alex, when you're over here.
Thank you so much.
No no Steven, thank you.
You know Steven, you were great,
you were fantastic. I really enjoyed.
The Q&A which you but but I I gotta tell you,
the students were unbelievable.
They were fantastic.
And, uh, uh and and it,
it shows.
What a great education they're
getting at Bangor University.
I congratulate all of you and
Steve and I have an offer if
you wanna send me their emails,
I will be more than happy to add them
to my email list 'cause I would like
to stay in touch with them to put
into practice what I'm preaching and.
But they were fantastic.
Steve and I really appreciate that.
The questions from the students.
Great and I also would echo
what Alex has just said.
These sessions could just be Steven
and Alex speaking to each other,
which we enjoy doing and we'll be
doing more of in a few weeks time.
But the real value comes when y'all
get involved and you ask questions
and you probe and you persist.
And then you say things to
each other in the chat area.
Yeah, you know, come on the seabob,
you can get an insight to that.
And yes, we want to have global connections.
Global networks.
At the end of the day,
financial Services is a global industry.
Much of the regulation is common.
There is some specific
individual national legislation,
but I hope you go away inspired
by some of the words.
Well, all the words that Alex said,
but particularly banking, is a noble cause.
Banking is a noble cause and remember,
the other phrase bankers
make dreams come true.
Whether it's for individuals
in retail banking.
Whether it's for corporate customers,
it's about making people's dreams come true.
There we are.
It's somebody's asking about recordings
and the the material is recorded.
I'll leave it to Danny to explain or
email out how you can access that.
Alex. Thank you so much.
Great session, have a good day there.
Thank you, great seeing everyone great.
I'll see you soon, Stephen.
See you soon. OK, thank you, Alex.
Thank you. Thank you so much.