HBOS to miss out as jobs move south

MissMoneypenny

"HBOS executives will miss out on most of the top jobs when Lloyds TSB completes its takeover of Scotland's oldest bank, it has been revealed.

Banking giant Lloyds TSB has announced that nine of the top posts will go to its people.

This leaves only two of the most prestigious positions for HBOS executives.

The majority of staff will also be based in London, despite demands from First Minister Alex Salmond for key decision-making functions to be located in Scotland"

http://news.uk.msn.com/Article.aspx?cp-documentid=10541612

Conrad

As a Broker Ive long been frustrated by the experince Ive had in general with Scots call centres, which may sound a little extreme, but I cant help but be candid about the day to day experiences.

In essence the service experience I get from Scots based lenders tends to leave me feeling Ive been dealt with in an overly arrogant, brusque, 'nanny knows best' manner.
There has tended to be an unwillingness to embrace and act upon feedback. My feedback for example to Standard Life Bank that they are ageist (along with IF - also Scots based) is ALWAYS met with a non plused, couldn't care less, wont be fed back attitude DESPITE THE CEO OF STANDARD LIFE BANK ON RADIO 4 STATING NO AGE DISCRIMINATION EVER TAKES PLACE!!!!

When I give feedback to English / Welsh based staff, I generally am thanked for taking the effort to feed back possible improvements, but with Scots based lenders the attitude is the complete opposite. Its as if the staff have all been implanted with an arrogance chip. They dont understand the most valuable resource any firm has is customer feedback - oh no, they dont need feedback - they know whats best and youud better know it.

ad44downey

Hbos sould be allowed to go down the swanee where it belongs. For Lloyds TSB to infect itself with this toxic rubbish beggars belief.

moanymoany

There is the possibility of a rival bid - http://news.bbc.co.uk/1/hi/business/7703908.stm

Generali

It would definitely be better for consumers for a foreign bank to take over HBOS. Lloydifax TSBank of Scotland and Abbey are going to be controlling a pretty big chunk of a lot of the market for finance.

Gorgeous_George

HBOS shares should do well next week.

GG

epz_2

I never really got the logic of moving operations to expensive places like london and having to skill a new workforce, I would have thought it would be cheaper to keep paying lower wages, less rent and sack the duplicate roles.

That said im sure the board are happy to pay £££s of shareholders earnings so they dont have to take that arduous hour long flight

Californication

Generali wrote: »

It would definitely be better for consumers for a foreign bank to take over HBOS. Lloydifax TSBank of Scotland and Abbey are going to be controlling a pretty big chunk of a lot of the market for finance.

Assuming the mystery bidder isn't Santander...

The whole thing seems a bit weird, since the general view was that the deal was of negative value for Lloyds and positive for HBOS, it was only a goer since most institutional investors had both anyway. This being the case, why would any other bank want an overexposed mortgage lender at the beginning of a house price correction and recession?

--C

StevieJ

Listening to that guy, I wasn't even convinced it was a bank.

olly300

epz wrote: »

I never really got the logic of moving operations to expensive places like london and having to skill a new workforce, I would have thought it would be cheaper to keep paying lower wages, less rent and sack the duplicate roles.

That said im sure the board are happy to pay £££s of shareholders earnings so they dont have to take that arduous hour long flight

They won't be skilling a new workforce. They will be taking on staff made redundant from other financial institutions in similar roles.

Very few employers in the UK believe in training staff.