The Tribune

The outgoing Association of International Banks & Trusts (AIBT) chairman has spoken candidly to young College of the Bahamas (COB) students on the importance of business ethics.

Attending a Business Ethics class at the invitation of instructor, Iyandra Bryan, AIBT head, Jean-Marc Fellay, covered several areas of his personal and professional experiences.

Having worked for more than 22 years in international private banking business, Mr Fellay spoke of the importance of personal integrity, work ethic and interpersonal skills.

“Unethical business behaviour can inflict great trauma on a company’s reputation”, he said, adding that this can happen through ordinary business practices, whether implied or explicit.

Emphasising that it was important to have business guidelines to navigate and avoid the many pitfalls, Mr Fellay said: “It is inevitable that you will encounter individuals who thrive with low or no morals and unethical behaviour.

“Sometimes people make others envious of their success, their rapid rise within the organisation and their ability to outmanoevere others by playing the ‘political game’.”

He reminded the COB students that most unethical behaviour will come to light at some point. Those involved pay a very hard price, and “the higher a person, the greater the fall”.

Mr Fellay encouraged students to consider their actions, and how they personally affect them and the company they represent.

He urged them to avoid compromising on ethics by quoting Warren Buffett: “It takes 20 years to build a reputation and five minutes to ruin it”

Mr Fellay has worked in a variety of positions, including internal audit, compliance, risk management, and business management support, most recently as chief operating officer. AIBT is the representative body for banks and trust companies operating within the Bahamas.