300 Advisers Going To JV

“300 or so advisers” will be transferred across to the new Joint Venture with Schroders according to George Culmer, Chief Financial Officer, Lloyds Bank. Mr. Culmer let the cat out of the bag when he was responding to a question from an analyst following the...

The Cost Of TSB’s IT Meltdown: £259,191,231

That is how much the botched IT migration has cost TSB so far according to the latest set of financial results.TSB made a £120.5 million loss for the nine months to September. On the back of the meltdown, Sabadell, TSB’s owner, has seen its share price fall by 24%...

Union Wins Landmark Legal Case

Well, we’ve done it again. In the most anticipated pension case in 30 years, the High Court has ruled today that the Lloyds Banking Group pension schemes must equalise guaranteed minimum pensions (GMPs) for men and women.The outcome of this case will have profound...

Carry On Banking

In the Q&A for staff produced when TSB announced it was setting up ‘customer hubs’ to deal with the unprecedented levels of customer complaints, the Bank said that staff in branches shouldn’t worry about leaving colleagues in the lurch because it would deal with...

Dark Clouds Over IBM?

Last year Lloyds Bank announced it was outsourcing 1,900 jobs to IBM. A significant number of the jobs transferred to IBM will eventually be offshored to India. IBM and Lloyds signed one of the largest cloud transformation deals with most staff working in...

Who Really Runs TSB?

TSB staff will be egregiously offended by Josep Oliu, Chairman of Sabadell Bank, complaining about the fact that he lost a few nights’ sleep at the height of the IT meltdown when they have constantly been under pressure for months trying to deal with the fallout from...

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