ETHICS ROUNDTABLE
THE PANEL
JEFF DIERMEIER, CFA
President and CEO
CFA Institute
Jeff Diermeier, CFA, has served on the
board of governors of the CFA Institute
since 2002 and became its full-time
president and chief executive offi cer in
January 2005. Until early 2004, he was
global chief investment offi cer at UBS
Global Asset Management. In that role, he
oversaw the management of more than
$400 billion in assets. He was with UBS
and its predecessors, primarily Brinson
Partners, since leaving the First National
Bank of Chicago as an equity analyst in
1975. He earned the CFA charter in 1979.
“Managers should always act with
independence and objectivity, act with skill,
LINDSAY TOMLINSON, OBE, FSIP
Y VEROUGSTRAETE
Vice-Chairman
competence, and diligence, communicate
Barclays Global Investors
© RAND
Lindsay Tomlinson is vice-chairman of
with clients in a timely and accurate manner,
Barclays Global Investors, Europe. He is a
Cambridge University mathematics graduate
and has a post-graduate qualifi cation in
and uphold the rules governing capital
mathematical statistics. After leaving
university he worked as a pensions actuary
and he is a Fellow of the Institute of Actuaries.
markets” Jeff Diermeier, CFA, CFA Institute
Outside of BGI, Lindsay is a member of
of a range of relevant industry bodies. He
was chairman of the UK Investment
Management Association from 2003 to 2005
and has acted as chairman of the FTSE
is crucial in obtaining and sustaining that licence. Right Policy Group. Tomlinson was awarded the
now, the fi nancial services industry is experiencing a crisis
OBE for services to the fund management
industry in the 2005 Queen’s Birthday
of legitimacy. Th e image of the fat cat banker being bailed
Honours List. He is a member of the CFA
out by the person in the street expresses the nature of that Centre’s Advisory Council.
crisis. Demonstrating that fi nancial services people operate
with integrity and in an ethical way is particularly
important during this crisis of legitimacy.
BOB PARKER
Vice-Chairman of Asset Management
Credit Suisse
Would having a strong ethical culture have helped some
of the struggling organisations who have seen their
Bob Parker is vice-chairman of Credit
businesses collapse?
Suisse. Prior to joining Credit Suisse in
1982, he spent six years at NM Rothschild
& Sons working in the foreign exchange/
PARKER – A strong ethical culture is critical in the fi nancial
fi xed income operation. He is a member of
the advisory boards of The European
industry at all times and fi nancial market crises are typically
Institute and Funds Europe, and a member
characterised by poor ethical behaviour. Organisations which
of the advisory council of CFA UK. He is
are either under stress and/or have been forced into
also chairman of the Asset Management
Committee of the International Capital
administration have all shown poor risk management. But in Markets Association.
addition their ethical behaviour towards their clients has in
many cases, been poor, leading to a loss of client confi dence
and therefore business and revenues.
WWW.CFAUK.ORG CAREERS GUIDE 2009 9
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