It’s Up For Sale.
We didn’t think it would be long before Sabadell outlined its real intentions for TSB. The Chief Executive of TSB’s Spanish owner Sabadell has confirmed that it’s open to selling TSB if it got the right offer. At a conference in Barcelona, Cesar Gonzalez-Bueno, said:...
From Desktop To Laptop
In our recent Working from Home Survey, 66% of members said that they were working more than 7 hours a day and were more productive than they were before the pandemic. According to a recent study of 3 million employees in 21,500 companies published by Harvard Business...
What, No TSB Strategy?
At its Investor Day meeting at the end of May, Sabadell confirmed that TSB will focus on mortgages. There will be “less appetite for consumer loans” and any new lending “will focus on lower risk and lower capital consumption products”. It seems that TSB is retreating...
What About Everyone Else?
Earlier this week TSB announced changes to the pay progression for Grade B members of staff. Those new entry salaries are good news for the small number of newly appointed staff who will benefit from the changes. But what about everyone else in TSB? The overwhelming...
£40 Million In Compensation
We are about to begin the next phase of the Union’s GMP campaign and that will begin to roll out in the next few weeks. Just to recap, last November the High Court ruled that Lloyds are legally responsible for equalising the guaranteed minimum pensions (GMPs) for...
New Strategy Unveiled In May
Sabadell has confirmed that in respect of its international businesses, TSB and Mexico, “No sale process will be initiated in the near future”. However, it’s clear from recent organisational changes initiated by the new Chief Executive Officer, that Sabadell intends...
Legal Action Over Inflation Change
In previous Newsletters we reported that tens of thousands of Lloyds staff including many who now work for TSB would see their pension benefits reduce because of the changes to way pension increases would be calculated in future. Trustees of the BT, Ford and Marks and...
Letter To Mr Harry Baines: Lloyds Banking Group – Inflation Changes
Please click here to view a PDF version of the letter.
Back To Normality In TSB?
According to the Office for National Statistics 53% of workers travelled to their place of work last week. The expectation is that will steadily increase after the Easter holidays. The boss of Goldman Sachs, David Solomon, said that working from home is not the “new...
The End Is In Sight
The pandemic has not just been a financial disaster, for many of course it’s been a health and well-being crisis too. All our lives have been turned upside down since March last year, and that’s likely to continue well into this year. The effects of Covid on some of...
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