Newsletters From BTU

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...

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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 according to...

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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...

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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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The Fintech Revolution?

One of the main reasons for replacing the Group’s current core-banking platform with a digitally native platform like Thought Machine is to counteract the effects of open banking and the rise of fintech and Third Party Providers (TPPs). The rules require UK banks to...

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Pay 2019 – Blackmailing Staff?

The 2019 pay pot is 2.6% compared to the current rate of inflation of 3.2%. On the Group’s own figures that means the vast majority of staff will yet again get pay increases less than the cost of living. That at a time when the Group posted a statutory profit after...

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Mind……The Gender Pay Gap

Lloyds Banking Group recently reported its April 2018 gender pay gap results in line with the Equality Act 2010 (Gender Pay Gap Information Regulations 2017). The Groups mean gender pay gap reduced narrowly from 32.8% (2017) to 31.5% (2018). In other words, women in...

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Severance Terms & The JV

Given the precarious nature of the financial advice business and the growth model proposed by Lloyds Banking Group for the new Joint Venture, the legal status of the Lloyds Bank enhanced severance terms and job security policy is extremely important. The issue is a...

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BTU Newsletters

Information when you need it most. Working in a rapidly changing industry you need authoritative, up to date information. Most importantly you need information you can rely on. BTU’s regular newsletters will bring you the information you need; readable but with enough detail for you to form an opinion on the facts. We want you to see our newsletters regularly and as soon as they are issued.

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