Trust Digest 47 (April 22, 2014) 

Q1 Thomson Reuters TRust Index – Financial institutions in the Americas Show Upbeat Start to 2014
The latest results of our proprietary TRust Index show that first-quarter 2014 trust sentiment in the Top 50 Global Financial institutions as a whole remained steady, but modestly negative. However, institutions from the Americas started the year well, ending with the first positive trust score of any region since the Index was launched a year ago.
Key Words: Trust, Finance
Trust Issues: Accountability, Integrity

GSK, Facing Bribery Claims, Battles to Build New Sales Model
Drugmaker GlaxoSmithKline (GSK.L) - hit by bribery claims in five countries - is to employ hundreds more doctors as members of staff as it seeks to build a new sales model designed to eliminate sharp marketing practices.
Key Words: Pharmaceuticals, Bribery
Trust Issues: Responsibility, Accountability, Corruption

A Settlement on Soured Mortgages May Raise Questions on What Is Enough
One of the unsettled questions from the financial crisis is whether the big banks have paid enough to cover the mortgage abuses they committed before the market collapsed. A settlement announced on Wednesday that involves Bank of America indicates that, in some cases, the banks could have been made to pay more than they have.
Key Words: Financial Crisis, Fines
Trust Issues: Accountability, Competence

Cowardly Corporate Lions: Whatever Happened to Courage?
In a room full of smart and accomplished corporate board directors and chief executives from leading companies around the world, one topic resonated above all the usual items on the table. It wasn’t strategy, risk management or compensation that stood out among the group I spent a couple of days with last week. It was courage.
Key Words: Courage, Leadership
Trust Issues: Responsibility, Competence

At Mt. Gox Bitcoin Hub, 'Geek' CEO Sought Both Control and Escape
Creditors who want to know how Mt. Gox at one point lost some $500 million worth of bitcoin and another $27 million in cash from its bank accounts, are seeking answers from Karpeles, who has spent recent days huddled in meetings with lawyers in Tokyo.
Key Words: Leadership, Bitcoin
Trust Issues: Responsibility, Competence, Ethics

The Secret Ingredient in GE’s Talent-Review System
GE is often highlighted as an organization that develops some of the most effective leaders. Most companies have a version of the talent-review system we use at GE. But judging from what I hear from managers of companies that visit us to benchmark our system, the difference between our approach and theirs does not lie in forms, rankings, tools, or technologies. It lies in the intensity of the discussion about performance and values.
Key Words: GE, Performance evaluations
Trust Issues: Communication, Integrity, Transparency

The Francis Effect: The Pope as a Turnaround CEO
Business schools regularly teach their students about great “turnaround CEOs” who breathe new life into dying organisations: figures such as IBM’s Lou Gerstner, Fiat’s Sergio Marchionne and Apple’s Steve Jobs. Now Harvard Business School needs to add another case study: Jorge Bergoglio, the man who has rebranded RC Global in barely a year.
Key Words: Leadership, Pope
Trust Issues: Communication, Competence

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