Bring in the Poets: CEO of ASIC Calls On Culture

Culture was the big issue in this conversation between Executive Director, Dr Simon Longstaff and CEO of ASIC, Greg Medcraft at The Ethics Centre's Leading Edge Series #1

Medcraft asserted time and time again the importance of building a culture that encourages and rewards the right type of behaviours. Greg Medcraft built his career pioneering new forms of securitisation for the banking industry. A successful risk-taker, now in his regulatory role as the Chief of ASIC, he is non-plussed and optimistic in representing the challenge for corporations of building good culture through the right practices, internal controls and behaviour.

By George & Co found itself wondering whether Medcraft was really talking about the stuff of culture or something more akin to the stuff of religion - systems of indoctrination, consequences and rewards, deterrents and penalties, sins and punishments - all for good society and corporate governance. Of course it's all culture in the end, but Medcraft didn't ever make mention of the value of poetry, though he might.

 

 

Homer's Iliad, our oldest poem in the western tradition is a stunning example of the machinations of human behaviour in the face of conflict, jealousy and avarice. In that poem lies some of history's great lessons on choice and ethics and the value of the guidance of the Gods. In Homer's time there was a whole pantheon of Gods infiltrating psyche and regulating behaviours. This raises the question of who (or what) are our modern day Gods. Is ASIC the God of decency? Is the customer a God of appetite. Can we hear the call to the Gods whilst our attention is being grabbed by junk, propaganda and 24 hour news.?

By George & Co collaborator and mythographer Martin Edmond is hosting conversation about these questions and more through Homer's Iliad.

 Achilles plays dice with Ajax

Achilles plays dice with Ajax

 Greg Medcraft gesticulates at Dr Simon Longstaff

Greg Medcraft gesticulates at Dr Simon Longstaff

You know when a culture is bad when you see it
— Greg Medcraft

In all The Ethics Centre's Leading Edge #1  was a worthy conversation. And By George & Co enjoyed encountering members of the team at The Ethics Centre including Trent Moy, Ethics Executive in Residence, Cris Parker, Executive at The Banking and Finance Oath and Kym Middleton, Media Production. 

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