The Banking and Finance Oath has merged with The Ethics Centre.

The BFO has always enjoyed a close association with The Ethics Centre, with its executive director Simon Longstaff playing a key role in initiating and drafting the Oath. The Ethics Centre is also the sole institutional member of The Banking and Finance Oath Ltd, which administers the Oath.

“The merger is designed to build on the momentum already generated by senior leaders, especially with the industry’s younger generation through universities and induction programs in the financial services industry,” John Laker, chair of BFO, wrote in an email to members.

It may also reflect financial imperatives, with 1632 signatories to the oath so far.

Under the new arrangements, The BFO will become a distinct program of The Ethics Centre under the management of Cris Parker, Head of the Ethics Alliance and a Director of The BFO Ltd. She will be supported by Jodi O’Callaghan, who will transfer to The Ethics Centre after serving as The BFO Ltd’s Executive Officer.

The BFO program will continue to be funded by signatories and with specific contributions from financial institutions.

As a result of this change, The Banking and Finance Oath Ltd will be deregistered.

Laker said: “The transfer of The BFO into The Ethics Centre will locate The BFO initiative squarely within its ‘spiritual home’, with clear benefits to both parties.

“The BFO has been gaining traction, and our Board believes that joining forces with The Ethics Centre, as the industry continues to rebuild community trust, makes good sense. Both organisations will be more effective as one than as two.”