business

Lloyds to launch responsible business centre in Birmingham

Banking group teams up with University of Birmingham for £2.5m centre which is aiming to transform attitudes in banking sector and beyond

A major new research centre aimed at promoting responsible business will be launched in Birmingham.

Lloyds Banking Group has teamed up with the University of Birmingham for a five-year, £2.5 million programme to transform responsible business practice in the banking industry and beyond.

It will be housed in the university's business school and called the Lloyds Banking Group Centre for Responsible Business.

The bank said this was the largest single research grant the school had received and it would address the many issues of embedding responsible business practice in the banking industry.

Its core aims are to become a leading European hub for responsible business research, shape the development of responsible business practice, have an impact on diversity and ethical good-standing of new entrants into the banking sector and engage with partner businesses and their staff training programmes.

In addition, new 'Principles of Responsible Business' modules will be added to the school's undergraduate, masters and MBA programmes in 2018.

Lloyds Banking Group will provide the funding for an initial period of five years to help deliver the research programme, its associated communications programmes and to fund the centre's academic and support staff.

A new academic post will also be created - the Lloyds Banking Group chair in responsible business.

The centre will launch officially in the autumn, coinciding with the arrival of the new dean of Birmingham Business School Professor Catherine Cassell.

Martin Dodd, Lloyds Banking Group's ambassador for the Midlands, said: "It's our belief that restoring trust with the public remains a critical task for us as a bank and the industry as a whole.

"We believe it is in our own hands to rebuild this trust.

"This can only be achieved through a healthy corporate culture in which every individual is valued for the skills, enthusiasm and dedication they bring to the business.

"Ingraining a healthy corporate culture across the industry and beyond should be a priority. The establishment of this centre will aim to address the many issues of embedding responsible business practice."

Professor Glyn Watson, dean of Birmingham Business School, added: "This new centre will drive thought leadership in responsible business.

"It will be a vibrant hub within Birmingham Business School, catalysing original, cutting-edge, interdisciplinary thinking to dissect existing business models, test beliefs, tackle problems and connect people, ideas and opportunities.

"The centre will capitalise on our academic excellence to extend our scope of influence and impact in the field of responsible business - with our research ultimately informing a more prosperous, equitable, inclusive and sustainable society for us all."

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