SPECIAL REPORT: 30 YEARS OF THE CISI
something is fashionable, then people seek to engage with it, but this area is so complex and interrelated with other things, and the pace at which information and data changes means it is hard to say you’re an expert in it.” Just as keeping abreast of the constantly
changing ESG investing landscape presents challenges for investment professionals, so too does navigating clients through the machinations of global and regional geopolitical tension. In today’s interconnected world,
almost everyone feels the effects of a crisis, wherever it’s taking place, but those at the epicentre of any conflict or political unrest are those that most keenly feel the negative impacts and therefore deserve the most backing.
Supporting Sri Lankan staff and members through a geopolitical crisis With Sri Lanka mired in a geopolitical crisis that is leading to fuel and energy shortages, and spiralling inflation exacerbated by the plunging value of the Sri Lankan rupee, the CISI is doing all it can to support members and staff there. The CISI office in Sri Lanka is a vital
part of the Institute’s global operations as it possesses many of the functions of the UK headquarters, including IT, marketing, and finance teams, and customer support representatives. Launched in 2011, it recently celebrated its tenth anniversary, having grown from 5 to 70 staff over the preceding decade, making it the largest CISI office outside London. CISI chief operating officer John
Preston calls it the organisation’s ‘sister office’, highlighting its global importance because of the support it provides in the form of expanded IT development, and customer service coverage for members day in, day out. John says the pressure the country now
faces comes after three years of challenging times. “After the terror attacks in Sri Lanka in 2019, we reaffirmed our long-standing commitment to the country. Then with Covid-19, the country’s vital tourism industry struggled, putting pressure on the nation. But these latest developments are the most serious. The country has run out of US dollar reserves, and the associated impact of that on things such as the supply of fuel, food, and medicines is serious.” John adds that staff in Sri Lanka can
work completely flexibly or remotely, while the office is in a zone that is largely
CISI.ORG/REVIEW
protected from power cuts. Staff are offered hot meals and the CISI is keeping a keen eye on the cost of living to ensure its staff are paid a wage that they can live off. “We carried out our standard salary
review in March/April but we’ve already done an additional Sri Lanka-specific one amounting to a significant rise to ensure people can afford the basics. We’re keeping a watching brief and will likely do further increases soon.” The CISI has roughly 200 members in Sri Lanka and is handling renewal
Graham Ross Russell FCSI(Hon) Founding chair, CISI: 1992–2000
Overcoming challenges is in the DNA of the CISI, whose genesis was aimed at protecting a way of doing things at a time when many feared standards might be eroded. As a result of the influx of large foreign
firms as part of the changes brought about by Big Bang deregulation in 1986, the London
Stock Exchange grew rapidly. But there was a feeling that this swift expansion would
“The fact that the CISI continues to follow its aims at home and abroad is a testament to all those who champion its cause”
dilute part of the culture of the UK’s financial services sector, and that action was needed to ensure that the integrity, ethics, and professional standards of individuals working in the investment and securities sector did not become casualties. This was particularly important given that the attitude of some overseas firms was that ‘if it’s legal, it’s okay’, whereas the London attitude was that whether it was legal was not the
only consideration – doing the right thing was vital. With the backing of the Stock Exchange, a small group of
members of the Stock Exchange Council obtained the support of senior people at Stock Exchange firms for the creation of the Securities Institute. It was the outstanding support of these senior practitioners, together with the encouragement of other City leaders, that ensured the creation of a successful individual membership organisation focused on training, continuing professional development and the integrity of individual members. This organisation – now called the Chartered Institute for
Securities & Investment – has a reputation which carries true weight and prestige, and which helps to promote London as one of the world’s pre-eminent financial centres. When we established the Securities Institute we hoped we
were building an important part of the fabric of the UK’s financial sector. The fact that the CISI continues to follow its aims at home and abroad is a testament to all those who champion its cause.
>>
23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78
