One wonders about the role of the Boards in our legislatively protected/oligopolistic banking industry. Does no one feel the pressure to perform, and assume their responsibilities, CEOs and Board Chairs/members alike, when there is a significant decline in performance over an extended period of time?
Banking, like Telecom, Airlines, Dairy, and so many other”protected” industries in Canada seem to suffer from this same malaise…that of not feeling the competitive pressure to make the tough decisions, in order to remain competitive, or even survive. In these sheltered industries, perhaps many just seem a little too comfortable, and in the end, the Canadian Consumer loses out, in terms of price, options, service and innovation. These “protections” were imposed many years ago and require revisiting across many industries. Their time has passed…perhaps its time for the country to grow up, leverage its scale scale of now upwards of 40M residents, and let competition do what it does best.
University Supervisor
2moCongratulations!