Stewardship by John G. Taft
Lessons Learned from the Lost Culture of Wall Street

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Synopsis

A compelling argument for why stewardship of wealth and service to others should be our highest financial priority

Stewardship is the journey of financial insider John Taft towards understanding and affirming the importance of stewardship—which he has come to define as "serving others"—as a core principle for the financial services industry, the global financial system, and society at large.

By defining the attributes of authentic stewardship, this book presents a path forward by analyzing the success of Canadian banks in weathering the financial crisis; evaluates the effectiveness of global financial reform efforts in making the financial system safer, sounder, and more secure; offers wealth management prescriptions for individual investors; evaluates the potential of ESG (environmental, social, and governance) investment processes as a way to instill stewardship behaviors among corporate CEOs (particularly at financial services firms); and, ultimately, calls for a return to stewardship's core principles as the key to not only minimizing the scope and consequences of future failures, but also to addressing other societal challenges.

Argues for a return towards stewardship, with financial services companies doing right by their customersAnalyzes the response of Canadian banks to the financial crisis to provide meaningful advice for investors and businesses alikeInspired by Taft's experience running one of the largest wealth management firms in the country during the financial crisis and his direct participation in subsequent legislative and regulatory efforts to rewrite the rules under which the U.S. securities industry operates

From the man who made the decision to reimburse clients affected by the collapse of a money market mutual fund comes a compelling look at why financial service companies should start doing what's right for their customers.

 

About John G. Taft

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John G. Taft is CEO of RBC Wealth Management–U.S. He is a leading figure in the U.S. securities industry and served as Chairman of the Securities Industry and Financial Markets Association (SIFMA) in 2011. He is a direct descendant of U.S. President William Howard Taft and Senator Robert A. Taft.
 
Published February 7, 2012 by Wiley. 240 pages
Genres: Business & Economics, Education & Reference, Professional & Technical. Non-fiction

Unrated Critic Reviews for Stewardship

Seeking Alpha

Author Taft, great grandson of U.S. President William Howard Taft, is an active manager of $220 billion of other people's money as CEO of RBC Wealth Management in the U.S. and former chairman of SIFMA (the Securities Industries and Financial Markets Association).

May 12 2012 | Read Full Review of Stewardship: Lessons Learned ...

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