Bank boss: City must be 'human' over staff depression

Bosses must show more "humanity" and "decency" to staff suffering depression, Britain's top bank boss said today.

HBOS chief Lord Stevenson warned that the credit crunch was making City workers particularly vulnerable and that they needed support for mental health problems.

The former Pearson boss has battled depression which he went public about earlier this year and describes as "the worst experience I've had in my life".

He told a London mental health conference: "I'm chairman of a big bank at the moment - that is not a bundle of laughs... it's the responsibility of people at the top to create an environment where staff can be open [about depression] without damaging their career."

Many City firms have set up special helplines offering staff counselling for anxiety and depression.

Evening Standard revealed how calls to these services have rocketed as the economic crisis has taken hold. But many people fear their careers will suffer if bosses know they are mentally ill.

Lord Stevenson said attitudes among top firms had improved but called for more awareness about mental illness and less stigma among employers. He said: "It's a great importance that employers are sensitive to the human aspects. Being made redundant or not getting a promotion are devastating things whatever mental health state you are in. I don't see any contradiction between employers asking people to leave and them creating a culture of humanity and decency."

The business chief made his comments at a conference organised by anti-stigma charity Stand 2 Reason, sponsored by law firm Herbert Smith and the London Development Centre.

Lord Stevenson said depression should not be a barrier to career success and revealed his own battle against mental illness started in his teens.

He said: "When I least expect it, I get zapped. I play the fiddle and I'm sportmad but when I'm depressed I get absolutely no pleasure from watching sport or listening to music."

His depression has not been caused by work stress but he said high-flyers were often more vulnerable to mental illness.

"The higher up the greasy pole you look there will be others with it... a large number of people who are successful suffer from depression."

Doctors have treated the HBOS chief with anti-depressants as well as cognitive therapy which trains people to overcome negative thoughts.

But he told the conference that at times his depression has been "like walking through treacle" and that he has his wife to thank for encouraging him not to give up on his career.