Mr. Ed Sibley:

It is also one of the reasons we are so interested in diversity. The Senator is right. The representatives of the banks that the committee has had before it look very similar to the people it had before it in the past and they have very similar backgrounds. Aspects of the issues of over-optimism and resistance to challenge relate to the lack of diversity in the institutions at very senior levels, particularly at the levels and in the roles responsible for driving the business forward. We have been pushing for greater diversity across financial services in the past two or three years. Again, we are starting to see some element of change coming through, but, again, it is at a relatively early stage.