With effect from later this month, the LSE Conduct Costs Project will be transferring its activities to New City Agenda, a new forum set up by Lord McFall, David Davis and Lord Sharkey to provide fresh thinking on issues relating to financial services, whose objectives include the development of appropriate and sustainable public policy in that area.
The core project team at the LSE Project, Roger McCormick, Chris Stears and Tania Duarte will continue to work on the Conduct Costs Project with New City Agenda. The project's website, findings and related materials will be made available on the New City Agenda website.
One of the first tasks of the Conduct Costs Project will be to publish a report on the potential for the use of metrics (such as conduct costs) in assessing the success of banks in improving their ethical culture (in their drive to "restore public trust") and in maintaining that improvement. This will build on work already started by the project at LSE.
Commenting on the move, Lord McFall, the Chair of New City Agenda, said:
"We are delighted to welcome Roger McCormick and his team to work alongside us at New City Agenda. This will help us encourage the drive for change already under way at many banks with the development of analytical tools and methodologies that enable comparative assessment of banks' and others' efforts in this area. The LSE Conduct Costs Project has already done great work in this area. It is important that this work continues."
Roger McCormick said:
"Whilst we are sad to be leaving LSE, this change will bring organisational and other benefits that the Conduct Costs Project needs at this stage in its development. Our research methodology and our determination to offer an independent and detached assessment of key financial market phenomena will not be affected. I am truly grateful to the many researchers and other supporters who have helped us get to where we are and very much hope we will continue to work with them."