As the CEO of a global bank, has the lack of clarity and agreement between different regulators in different markets made your role more difficult?
It has. If we wish to reform the financial services industry we should do it under the auspices of the G20. The Pittsburgh Agreement was announced the first time the G20 met, and was meant to be a collective G20 agreement on remuneration for the banking industry. The UK chancellor of the exchequer at the time, Alistair Darling, asked me if I would support those rules and I said I would if the whole G20 did the same.
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