Welby says banks should "pop the bubble of self-regard" Banks should "pop the bubble of inward-looking self-regard" in the City, Justin Welby, the archbishop of Canterbury, said on Wednesday. He warned of a dystopian future in which "international banks remain in an ever more prosperous City with ever higher property prices," served by a "disenfranchised population" commuting into London from the surrounding countryside. The archbishop was addressing a packed audience for a debate on "Good Banks" at St Paul's Cathedral. He has been an outspoken critic of the excesses of the sector and serves on the Parliamentary Commission on Banking Standards. He said he was unable to comment on the commission's report, which was signed off just before he spoke at St Paul's and is due to be published on Friday. In his speech, he praised the City as a centre of "productivity, innovation and energy." But he said profit and good returns were only a means to the end of "human flourishing." Speaking at the same event, Antony Jenkins, Barclays" chief executive, who is attempting to change the "culture" at the bank, said a good bank would be defined by customer trust and its commitment to all stakeholders. "Cultural change will take time and even when we want to do the right thing, it doesn't mean we won't make mistakes," he told the audience, which included City financiers, advisers and regulators. The panel was asked who they thought would be a good replacement for Stephen Hester at Royal Bank of Scotland. But the archbishop declined to respond.