Salvage ethnography in the Scottish financial sector : the path to economic crisis in Scotland

This book takes a body of ethnographic data collected in 2001-2, during a year's fieldwork at the Bank of Scotland (BoS) and HBOS, and revisits it from the perspective of the 2014-16 period. It explores the tension between the 'ethnographic present' of the author's original research and the unavoidable alteration of perspective on that data that the economic crisis has created. The original research had been planned to take place in the BoS but in 2001, before the research began, BoS had merged with the Halifax to form HBOS. The book provides a long-term historical perspective on BoS/HBOS, from inception to the 2008 financial crisis, and then a consideration of the nature of historical explanation, under the rubric of 'theory'. The main attempts to explain the proximate causes of the 2008 crisis, as well as more encompassing political economic arguments about the trajectory and dynamics of capitalism are examined. The concept of 'culture' as applied to both national groups, Scots and English, and organizations, BoS and Halifax, are also dealt with. The book examines other governing concepts such as organisational change in the business world and social change, identity and the way Scottish and English experience their own personhood, and comparative nature of ethnographic research. The conclusion reviews and draws together the themes of the book, returning to the overarching question of historical perspective and explanation. This book is based on ethnographic research from 2001-2, during Bank of Scotland's first year of merger with Halifax to form HBOS. The research is revisited from the present perspective in the wake of the global banking and financial crisis that undermined HBOS in 2008. This historical perspective on the ethnographic data is used to explore: people's responses to the pressures of heightened competition and organisational change; mutual and sometimes antagonistic perceptions of Scottish and English identities across the two merged banks; conflicting evaluations of national and organisational cultures; and the challenges of integrating ethnographic and historical perspectives in a single study. As an historical ethnography it'salvages'a disappearing culture of Scottish and UK banking, disintegrated by neoliberal processes. Front matter Contents List of figures and tables Acknowledgements Series editor’s foreword Introduction: ethnography, history and the vagaries of research History: from the Bank of Scotland’s origins to HBOS and crisis Theory: explaining financial crisis and conceptualising capitalism Culture: nations, banks and the organisation of power and social life Change: discourses of agency and progress in organisational change Identity: struggles with personhood, nationhood and professional virtue Comparison: doing ethnography and thinking comparatively Conclusion Epilogue References Index A historical ethnography of banking practices during the merger of Halifax and the Bank of Scotland into HBOS, it provides illumination on the 2008 economic crisis through review of the role of national identities, the different styles and ethos of business, the tension and unrest prevalent during the merger and the implications for future development within the organisation A historical ethnography of banking practices during the merger of Halifax and Bank of Scotland. Provides insight into the 2008 economic crisis through review of the role of national identities, different styles and ethos of business, tension and unrest prevalent during the merger, and implications for future development within the organisation. -- .