Newsletters From BTU
Letter To Sir Tom Scholar, Chairman Of The Forfeiture Committee, Regarding Antonio Horta-Osorio
Letter To Mr. Harry Baines – LLOYDS BANKING GROUP PENSIONS TRUSTEE LIMITED v WALKER & OTHERS
The “Year of the Squeeze”
In a report published on the 29th December, the Resolution Foundation, a well-respected think-tank focused on improving the living standards for those on low to middle incomes, said that 2022 would be the “year of the squeeze” on people’s finances. In its quarterly...
IT Infrastructure “Not Fit for Purpose” says Lloyds Transformation Director
The scale of the Group’s technological problems is laid bare in a recent teleconference by Nick Williams, Group Transformation Director. In that teleconference, Mr. Williams talks about the Group’s IT infrastructure, Project Voyager and use of cloud technology. But in...
Pay Squeeze For All Lloyds Staff
The 2022 pay pot, the amount of money the bank spends on pay, is just 3% compared to the current inflation rate of 6%. On the Bank’s own figures, that means all Lloyds staff are going to see their pay fall relative to the cost of living. Matt Sinnott, Group People and...
Inflation Hits 6%
According to the results of the bank’s latest engagement survey, the number of staff who felt their reward package fairly reflected their role fell by 11% compared to 2020. 40% of Lloyds staff said their reward package was not good enough. In fact, improving pay and...
The Pandemic Pay Rise
Inflation matters because higher prices eat into incomes and if incomes don’t grow to match prices, then living standards will fall. The Office for Budget responsibility (OBR), which provides independent and authoritative analysis of the UK's public finances, said...
178 More Branch Jobs Going
We have just about emerged from the pandemic and Lloyds has seen fit to announce a further 48 branch closures across the Group, with the loss of 178 jobs. That brings a total of 148 branch closures since the beginning of the year. How many more branches are going to...
Charlie’s World – Part 1
So, what’s going to be different? Is the new Group Chief Executive going to continue with the strategy set out by his predecessor or will Charlie’s world be different? And if it’s going to be different, what might that look like? Mr. Nunn has said that he wants to get...
BTU Find Charlie’s ‘Lost Bonus’
And it’s worth a staggering £1,316,564, more than enough to buy him a new puncture repair kit. The new Chief Executive, Mr Charlie Nunn, is the only person in Lloyds Banking Group to get a 2020 group bonus payment, albeit based on what he would have earned at HSBC....
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