(Bloomberg) — Lloyd's of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators.
Nelson, speaking at Lloyd's annual dinner in London, said a lack of trust in business had been "fed by a steady diet of negative business behaviors" since the financial crisis in 2008.
"Just in these last weeks we have seen business — and big business — demonstrating serious corporate irresponsibility," he said at the dinner attended by Bank of England Governor Mark Carney. "For too long now, many businesses have been focusing exclusively on their own profit and return on capital."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
