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On the basis of the main purposes that resulted in the banking crises in the UK, this report examines if the UK combine Code has proven to be valuable in terms of accelerating the financial performance of the UK banks. However, investors expect a lot more from the financial institutions including banks of the United States of America.
This report is aimed to review two companies as criteria, in the United Kingdom corporate governance, on board structure and if the United Kingdom combined code is effective on the financial performance. The dissertation clearly identifies the weaknesses, strengths, current performances and failures of the banking industry of the UK.
The collapse of the banking sector of the United Kingdom was followed by the bankruptcy of the Lehman Brothers, the largest banking institutions in the United States of America. Since then, the UK went in to deep recession, which was considered to be the worst by many economists. In the corporate governance sector, the United Kingdom is considered as the world leader (Shah, 2009).
The most important factor behind the collapse of banks in the United Kingdom is the ineffective and inefficient progress of the board members. This investigation is aimed to review and analyze the major issues and factors that took part in the failure of the banking and financial institutions, more specifically, RBS and HSBC. These banks are compared and examined deeply, aiming to discover out if the entities act in accordance with the combined code generated good financial results.
The rigidity of the financial sector provides no room for abidance (Berndtson, 2009). The business and management corporate entities, at earlier, were governed in harmony only with the