ABSTRACT
Professor Iain Mangham died in December 2004. He was formerly Head of School at the Management Centre, University of Bath and before that he had been, among other things, a senior executive with Eli Lilley. He was a tremendously influential individual. The penetrating nature of this chapter, which he wrote for the first edition as he reflected upon the lapses in corporate integrity that led to the collapse of Enron and other companies in 2001, remains just as relevant and insightful for understanding the financial and economic crisis which followed later in that same decade. A reading of this chapter with those recent events in mind is now even more thought-provoking than it was the first time around. Iain begins his analysis of integrity and leadership with the World Economic Forum held each year in Davos, Switzerland. How remarkable and ironic it is that in 2010 the Davos meeting was dominated by debates between leading bankers and regulators about how to reform and restructure following catastrophic failures in integrity. The forum’s own proposals for reform, led by a steering group of senior figures from Barclays, JP Morgan, Allianz and others, were brought together in a report entitled ‘Restoring Trust and Rethinking Business Models Critical to Financial System Resilience’. Whether the proposals in that report really get to the heart of the issue in the way that Mangham does in this chapter is a matter for grave doubt.
