Christine Lagarde: lessons learned from Lehman

Christine Lagarde: lessons learned from Lehman

The managing director of the International Monetary Fund (IMF), Christine Lagarde, has written an article on the 2008 financial crisis and its aftermath, calling the events leading up to the crisis ‘a sobering lesson in groupthink’. Ms Lagarde said banking culture, ethos and values still need reform, and called for more female leadership in finance, saying greater diversity sharpens thinking, reducing the potential for groupthink.

Ms Lagarde argued that diversity also leads to more prudence, ‘with less of the reckless decision-making that provoked the crisis’. IMF research has found that a higher share of women on the boards of banks and financial supervision agencies is associated with greater stabi

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About the author:
Eleanor Stephens
Eleanor qualified in 1998 into the insolvency team at ASB law. She became a partner in 2005, and went on to head up the Recovery & Insolvency team. Whilst traditionally specialising mainly in contentious corporate insolvency matters, in recent years she has moved into the non contentious arena, in particular specialising in company administrations.