Newsletters From BTU
Transparency Of Bonuses
It seems that SPWs pricing strategy – which was quoted extensively in the Financial Times from a leaked internal document – has set the cat amongst the pigeons. The Financial Times said: “The aggressive pricing strategy….comes as it [SPW] seeks to become a big...
‘Two-Pensions Osorio’ Not A ‘Charismatic Winner’ Say Lloyds Staff
The problems for the Lloyds Chief Executive, Mr. Antonio Horta-Osorio, just keep on piling up. A week ago, the bank suspended its share buyback scheme because it needed to set aside up to £1.8bn to cover claims relating to the mis-selling of PPI. It seems the bank...
Is António Horta-Osório the Unacceptable Face of Capitalism?
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Lloyds Sales Culture – 2019
In a recent article on the PPI mis-selling scandal, the Financial Times quoted from an unnamed Lloyds seller who was working in the bank when PPI was being sold. The article says: “When Mathew started working for one of the UK’s biggest banks in the late 1990s, he...
GMP Legal Case Part 2
The second part of the Union’s landmark legal case on Guaranteed Minimum Pensions (GMPs) will begin in the High Court early next year.Members will recall the High Court ruled last year that the Trustee of the Lloyds pension schemes is under an obligation to equalise...
The Surveys That Changed The World!
It was us. We did it. We boosted the UK economy to the tune of £48 billion (cost to date of the payment protection mis-selling scandal) and that had a greater impact than the Bank of England’s quantitative easing (QE) programme according to many economists. It was a...
Saving Money Or The Environment?
Let’s be clear, changing the company car scheme is not about saving the environment, it’s about saving money. When all’s said and done, the bank will save more money from forcing eligible employees to take the allowance, be that consolidated into basic pay or not,...
“Bumps In The Road” At Schroders
Members have been telling us for weeks that issues with the Benchmark system are seriously affecting their ability to offer customers a great service. These system problems are not “bumps in the road”, which sounds like a rather cack-handed attempt by senior...
Executive Pay And Pensions
At a recent hearing of the Work and Pensions Select Committee, Mr. Stuart Sinclair, Chairman of the Group’s Remuneration Committee, said: “When I go out to see people who are on £22,000, £30,000, £40,000 , they see Antonio as a winner....There is a charisma around...
Bank Ignoring Contractual Rights
Some senior members of the bank are telling staff they won’t be able to use the grievance procedure if they disagree with their end of year bonus awards. Bonus payments are discretionary and therefore the grievance procedure doesn’t apply according to the bank’s...
BTU Newsletters
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