This book is about the author's journey towards understanding and affirming the importance of Stewardship as a core principle for him, personally; for the financial services industry; for the global financial system; and for society at large. The book defines stewardship and describes the attributes of authentic stewardship. It suggests 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 core principles as the key to not only minimize the scope and consequences of future financial system failures, but also to addressing other societal challenges.
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Charles D. Ellis is a consultant to large public and private institutional investors. For three decades, he was managing partner of Greenwich Associates, the international business strategy consulting firm. He has taught investing at both Harvard and Yale and is the author of fifteen books, including the bestseller Winning the Loser’s Game.