The Principles of Banking, 2nd Edition

Foreword

Jason Oakley

I first met Professor Moorad Choudhry at a UK Finance seminar regarding bank capital and liquidity management. I was instantly struck by his passion, but also by his intellect and clarity of thinking. As I have got to know him, as fellow board directors of Recognise Bank, I have come to admire a man of great principles.

I read a lot and often hear a lot about the financial crisis, but for me the rot set in long before this. When I joined the industry in 1985 it was a proud moment for me, offering a career I was excited about. It was made very clear to me that promotion and opportunity were aligned with upskilling, progress with professional exams and mentoring / coaching from senior colleagues.

I set about with great vigour to pass my foundation certificate, then become an Associate by 21 years old, then on to the Financial Studies Diploma, the postgraduate qualification and finally the Lombard MBA – all before I was 30 years old. I learnt a great deal, I interacted with very different bankers, from different cultures, but what we had in common was that we all strived to self-improve. This knowledge and interaction allowed me to join up dots, and to become more ambitious in my thinking and aspirations.

What do I see today?

An industry denuded, the older generation has been prematurely retired off, new recruits have very narrow verticals, they are not taught about old fashioned banking – spreading accounts, debt service, the crucial importance of cash ...