The Ethics in Finance Robin Cosgrove Prize has been awarded to 5 remarkable young people from across the world .
The Prize gives the participants an opportunity to influence global thinking on the future of finance.
The continuing financial crisis has proved the relevance of the Prize for Ethics in Finance and Robin Cosgrove’s vision of the threat to the international economy posed by lack of integrity, loss of trust and inadequate ethical practice in banking and finance.
The 2012-2013 Global Edition of the Prize was launched at Citi Bank in London. The joint winners are:
•Rafael Gomes: Corporate market responsibility: ethical regulation for orderly financial markets [Portuguese, currently working in London]
•Prabhay Joshi: Lessons from Libor; moving beyond compliance to explore the dynamics of ethics within banks [British of Indian origin, working in London]
They each received $10,000.
The 2012-2013 regional Ibero-American Prize was launched at MAPFRE in Madrid. The results are:
•German Scalzo: The fundamental anthropological links between ethics and finance /Fundamentos antropológicos de la relación entre ética y finanzas [Argentina]
•Ángel López: Proposal for a web platform for inter-bank finance for social impact projects/Plataforma web de Financiación Interbancaria para proyectos con impacto social [Spain]
They each received $6,000.
•Beatriz Cuevas: The necessity for critical reflection on corporate social responsibility strategies/ La necesidad de una reflexión autocrítica sobre las estrategias de Responsabilidad Social Corporativa[Spain] - she received $3,000.
The best 11 papers submitted for the competition are published in a special issue of FINANCE & THE COMMON GOOD/BIEN COMMUN [Geneva, 2013, www.obsfin.ch], and may be found on the website of the Prize.
The Prize, based in Geneva, is managed jointly by the Observatoire de la Finance/International Financial Observatory and Dr Carol Cosgrove-Sacks.
The best papers submitted for the Prize were evaluated by a distinguished international Jury.
The Robin Cosgrove Prize is committed to implementing ideas on how to promote trust and ethical behaviour in all aspects of the finance sector. The Prize of USD 20,000 will be awarded to the best Innovative Ideas for Ethics in Finance.
We want to encourage papers from all over the world. The papers can be submitted in English or in French for the global Prize. We also have the regional Prize [USD 15,000] targeted to Ibero-America, and papers may be submitted in Spanish or in Portuguese.
What can the Robin Cosgrove Prize offer to you:
- The opportunity to contribute to the global reflection and actions to enable our global society to tackle the multiple problems it has to face,
- The best texts will be published in an internationally reputable journal,
- And, last but not least, a reward of 20,000 USD for the winners!
Robin loved life as a young investment banker in Tokyo and London. He was passionate about success and about his integrity. He believed that banks and the finance sector in general bring benefits to people and to commerce.
He travelled widely throughout the world. His experiences convinced him that the finance sector should serve the common good as well as making profits. He was concerned that complicated financial products would blur ethical and practical considerations.
For him, trust was the essence of good banking. But he feared that many young finance professionals were losing touch with the fundamentals. He set his life goal to promote better understanding of the critical importance of trust, ethics and personal and corporate integrity.
Sadly, at much too young an age, he lost his life in an accident on Mont Blanc.
The Prize, with its core focus on Ethics in Finance, is a small step to encourage young people to commit to Robin’s ideals.
The Vision of the Ethics in Finance - Robin Cosgrove Prize
The Ethics in Finance - Robin Cosgrove Prize has launched a global debate on the role of ethics and integrity in all aspects of finance. Our goal is to use the fresh ideas and discussion that result from this dialogue to inspire the young finance community and to re-inspire the broader finance, civic and academic communities.
The book brings together the collected best papers from the Ethics in Finance Robin Cosgrove Prize competitions, 2006-2011.It is published by GLOBETHICS.net, Geneva.
[more details: see http://www.globethics.net/web/ge/research/publications and Latest news]
The Ethics in Finance - Robin Cosgrove Prize can reward your best young staff and recognize their commitment to important values, especially trust and integrity.
Business Schools and centres for the study of Finance are invited to partner with the Prize Administration to promote awareness of the competition and to encourage their students and alumni to reflect on the role of Ethics in Finance.