● Stewardship: Lessons Learned from the Lost Culture of Wall Street
By John G. Taft
Review and interview with author via Marketplace
The term “Stewards of Capital” used to mean the businesses of Wall Street, which were supposed to hold and grow assets for clients. Now, it’s a quaint archaic term that decades ago, gave way to “Masters of the Universe.”
John G. Taft, the CEO of RBC’s wealth management arm in the U.S., is trying to hit the brakes and take the Wayback Machine to a time when Wall Street businesses were there to serve clients – not serve themselves from a big buffet table full of money. Taft said that investors have lost faith that the market will grow their wealth over time, and he calls himself “someone who is dedicated to making sure that the financial system does more good on the earth than it does bad.”
