An Ethical Career in Financial Services?

The careers service of my old University, put out a call to alumini for short articles that showcase how acting ethically in any organisation is a valid personal definition of an 'ethical career'. I wasn't sure if what I might say would be of interest, but responded with the piece below.

It seems they like it and plan to use it. While I have never consciously pursued an “ethical career," on reflection, I claim that I don’t believe I have ever been unethical. This might surprise some given that I have worked in financial services for the last 30+ years, much of it with banks. I have been an organisational change agent for most of that time and not sure that I am what is thought of as a “banker." Before that I was employed by the nuclear industry. Neither of these workplaces was viewed badly back when I started, but then nor was the tobacco industry. The values and perception of society have changed and will continue to and what is considered ethical today, may not be so viewed tomorrow.

From experience, and cynically, when I hear the volume turned up on ethics, I tend to expect there to be a marketing angle attached, finding a new market for a rebadged product. The motivation for ethical propositions is generally the same as any other business, ie to make money, but in these cases, they seek to appeal to a market segment who seeks to associate and identifies with certain values or causes; at the start, at least, it is the clients who are "ethical" rather than the businesses per se.

Of course with success and security those businesses can aspire to higher planes, or at least the owners and executive can. A certain cosmetic company comes to mind in this respect, and I am sure there are others, but similarly, I suspect deeper inspection of many companies with ethical claims will reveal mixed messages at least.

To me being ethical is about being true to an inner moral compass; to look after those I love and care for. I don’t believe my decisions have ever been driven by exploitation, but at times I admit I have benefited at the expense of others. However, putting one’s own interests first is not necessarily bad.

In Maslow’s Hierarchy of Needs, I see ethical behaviour coming to the fore in the high/mid level of Esteem. Companies have a similar set, and until and unless one has the wealth and security not to worry there will be occasions requiring hard decisions, decisions that could be seen by some as unethical. I endeavour never to regret mine, and should I find that I do, then I look to redress the situation.

 I wonder how you would have responded?