By J.C. de Swaan
Seeking Virtue in Finance:
- Challenges traditional concepts of success in finance and business more broadly;
- Counters the narrative of badly behaving, self-serving finance professionals by shining a light on inspiring individuals in the industry;
- Will appeal to those who either contemplate working in the finance industry or currently work in it and are concerned about being corrupted by the industry;
- Suggests a path to help improve finance from within and restore its focus on serving society
Since the Global Financial Crisis, a surge of interest in the use of finance as a tool to address social and economic problems suggests the potential for a generational shift in how the finance industry operates and is perceived. In Seeking Virtue in Finance J.C. de Swaan seeks to channel the forces of well-intentioned finance professionals to improve finance from within and help restore its focus on serving society. Drawing from inspiring individuals in the field, de Swaan proposes a framework for pursuing a viable career in finance while benefiting society and upholding humanistic values. In doing so, he challenges traditional concepts of success in the industry. This will also engage readers outside of finance who are concerned about the industry's impact on society.
Table of Contents
- Introduction
- Customer Mandate: Serving Customers’ Interest Faithfully
- Social Wealth Creation: Contributing to Society beyond the Customer Mandate
- Humanistic Leadership within the Organization: Treating Colleagues with Dignity, Empowering Them, and Fostering a Responsible Culture
- Engaged Citizenship: Contributing Expertise, Time, and Wealth to the Common Good
- Conclusion
Talk by the Author about Seeking Virtue in Finance
Alternatively, you may want to watch this interview with De Swaan by the Policy Punchline Podcast, or listen to this podcast:
Relevant Links
"Finding Virtue in the Finance Industry" - article by De Swaan in the Harvard Business Review, 12 October 2020
Detailed Table of Contents
- Introduction
- Customer Mandate: Serving Customers’ Interest Faithfully
- The Wells Fargo Case
- An Unfulfilled Responsibility
- A Fiduciary-like Universal Principle
- Serving Customers’ Interests Faithfully: Models of Fiduciary Leadership
- Social Wealth Creation: Contributing to Society Beyond the Customer Mandate
- Being a Good Fiduciary Is No Panacea
- The Concept of Value
- A Spectrum of Social Outcomes in the Finance Industry
- Identifying Social Value Creation
- The Promise of Innovation
- The Case for Moderation
- The Social Value of Investments
- Humanistic Leadership Within the Organization: Treating Colleagues with Dignity, Empowering Them, and Fostering a Responsible Culture
- Colleagues Matter
- Developing and Empowering Colleagues
- Fostering a Responsible Corporate Culture
- Promoting Diversity
- Engaged Citizenship: Contributing Expertise, Time, and Wealth to the Common Good
- The Versatile Finance Professional
- Donating Thoughtfully and Generously
- Contributing Expertise and Time
- Conclusion
About JC de Swaan
JC de Swaan is a lecturer in the economics department at Princeton University, where he is affiliated with the Bendheim Center for Finance. He teaches courses on ethics in finance and on Asian capital markets to undergraduate and graduate students. He also teaches at the Judge Business School at the University of Cambridge. In the past he has taught at Yale University, Hong Kong UST, and Cheung Kong Business School in Beijing. Separately, JC de Swaan is a Partner at Cornwall Capital, an investment fund based in New York. Prior to Cornwall, he was a senior advisor on China at a global macro fund and an investment professional at an Asia-dedicated hedge fund. Prior to that, JC de Swaan worked at McKinsey & Company. At Princeton, JC de Swaan also hosts speakers on the topic of ethics in finance and acts as a faculty adviser to first-year and sophomore students. JC de Swaan received his B.A. from Yale University in Political Science, an MPhil in International Relations from the University of Cambridge, and a Master in Public Policy from Harvard University’s Kennedy School. He is a Member of the Council on Foreign Relations and an Associate Fellow of Ezra Stiles College, Yale University.
