Commentary

Keith Skeoch: ‘Banks have come a long way since the dark days of 2008’

Ring-fencing should remain in place for now, but more flexibility is needed across the regime, including exemptions for certain activities and some smaller banks

‘Nothing in life is black and white, and that is equally true of banking’
‘Nothing in life is black and white, and that is equally true of banking’ Photo: Getty Images

Keith Skeoch chaired the UK government's Ring-Fencing and Proprietary Trading Review, and is the former co-chief executive of Standard Life Aberdeen

The ring-fencing regime was introduced following the financial crisis and broadly required banks to separate their retail businesses from investment banking. In the same way RBS became the poster child of the financial crisis, ring-fencing became the poster child for UK banking reform.

WSJ Logo