Newsletters From BTU
Bank Breaks Own Policy On Fact Finds
A member subject to a fact find interview (an investigation meeting) asked for a copy of the recording made at the meeting or a transcript, only to be told by the Bank that she couldn’t have one. Leaving aside the wider implications of refusing to provide evidence...
Real Pay Progression – The Elephant In The Room
The last report and accounts showed that Mr. Antonio Horta-Osorio, Group Chief Executive, is paid some 169 times more than the average worker in Lloyds Banking Group. The Lloyds pay gap is the highest in the UK financial services sector, and one of the highest in the...
4.37 Million Customers Seeking Redress In Lloyds
According to documents leaked to the union there are some 4.37 million Lloyds customers awaiting remediation outcomes (in non-gobbledygook, having complaints resolved) costing the bank £766 million, and that doesn’t include new remediations introduced this year. Those...
Executive Pensions Enquiry – Lloyds Banking Group
Please click this text to view a PDF version.
Lack Of Transparency
The main problem with the bank’s new approach to pay and performance is its fundamental lack of transparency. According to the bank’s own research, 31% of staff don’t trust their line manager to make fair decisions about their reward. That’s a startling statistic. And...
Letter To MP Frank Field Regarding Executive Pensions
Please click here to view a PDF version of the letter.
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?
Please click this text to view a PDF version.
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...
BTU Newsletters
To ensure you’re completely up-to-date, register to receive our newsletters by email or text message to your mobile phone (with a web link). As you would expect your email address and mobile number, like all our other membership information, are confidential to you and the Union.
To receive copies by email just let us have your details at 24hours@btuonline.co.uk and we’ll arrange it.
Older newsletters are available upon request.