Jam Tomorrow For JV Staff

The announcement today on the new JV terms and conditions is long on jam tomorrow but short on detail. What have HR been doing since October to produce this set of terms and conditions? The terms announced today could have been put together in one week and could have...

Davos Man & More Job Cuts

Apparently the Bank’s investment in training – which most staff have not seen any evidence of yet and are probably not likely to before they are made redundant through automation and digitisation  – is to make staff “useful” for the future. This is...

Regulatory Arbitrage

When addressing a group of Wealth Management Advisers on the Joint Venture (JV) with Schroders, one regional manager said: “the hounds will be set free”. He then explained that because there would be less regulatory scrutiny and supervision of the new business by the...

10,000 Jobs Wiped Out By Thought Machine

Lloyds Banking Group (LBG) plans to bypass its current IT system and replace it with Thought Machine’s cloud based core-banking platform called “Vault”. LBG recently invested £11 million for a 10% stake in Thought Machine, a Fintech set up a few years ago by a group...

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