We are acutely aware of the trust placed in us by customers and shareholders and of the important part we play, as an investor and employer, in the broader UK economy. We speak up and take part in public and private debate when it is in our stakeholders’ interests for us to do so.

As a long term business we seek to:

understand the risks we take

avoid the distorting effects of short term incentives; and

conduct business in a sustainable fashion.