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Citi Plays Host To Ethical Finance Event

Wendy Spires

10 August 2012

September will see Citi host an event in London focusing on what is shaping up to be a red-hot topic this summer: the need for the financial services sector to mend its reputation and demonstrate that it is functioning ethically.

The event, which is taking place on 7 September at Citi’s Canary Wharf headquarters, is to promote the Ethics in Finance Robin Cosgrove Prize. The prize, now in its fourth year, sees young academics and financial services professionals from around the world submit creative papers setting out analyses or proposals on how to change the financial system for the better. Launched to honour the memory of Robin Cosgrove - an investment banker who died tragically in an accident at the age of 31 - entrants are invited to submit creative papers setting out analyses or proposals on how to change the financial system for the better. The Ethics in Finance Robin Cosgrove Prize attracts entrants from all over the world, not least because of the $10,000 awarded for the best paper.

The event will also promote a new book pulling together the 23 best and most innovative entries for the prize, entitled Trust and Ethics in Finance, which was launched in June at the Global Ethics Forum in Geneva.

The event at Canary Wharf will feature speakers from the bank, former winners of the Robin Cosgrove Prize, and its organisers, including Dr Carol Cosgrove-Sacks (the mother of Robin and director of the Prize). Also speaking will be Stephen Harris, publisher of WealthBriefing and chair of the prize promotion group.

“Responsible finance is a core part of Citi’s broader transformation over the last three years. Our priority in restructuring the company has been to get back to the basics of banking - serving the real economy,” Citi said in a statement.

“Our commitment to responsible finance and to the basics of banking means supporting projects that serve the public good. This is why we’re a proud supporter of the Ethics in Finance Robin Cosgrove Prize, which is encouraging young people to think critically about some of the most pressing issues facing the financial services sector today.”

“I very much appreciate Citi’s support for the fresh ideas in the book because they are very relevant to raising awareness of these issues in light of the current crisis in the financial sector,” said Dr Cosgrove-Sacks.