Bank CEO Antonio Horta Osorio gives views on Brexit
Antonio Horta-Osorio is the one who is heading the Lloyds which is the largest retail bank in UK. For many days the CEO has been seen on the headlines speaking on various issues concerning the bank within the year. The government sold its shares sometimes back from the bank. That affected the bank financially and entered into crisis. The CEO had to negotiate with the government for a financial boost which later the government owned up to 43% of the bank. The bank right now is back on its feet and making profits. Antonio has been leading this retail bank since 2011. His entrance to the bank has been a big blessing to the institution which is now back to profit-making organization. That is not to say that they are enjoying challenge free zone as the government bailout is viewed as a huge commitment. During its process of recovery, the bank closed several branches and cut off several jobs. That was a radical move, but it has brought some improvements as the institution now is saying to be making profits.
The effects and uncertainty that looms around Bretix is not without effect to the British economy. The bank believes its relationship with clients will go a long way in improving its performance. Because of that the CEO is planning to push the bank forward so that it can come up with ways of developing a multichannel experience with its clients. The CEO said something about Brexit and banking. The CEO does not see the possibility of the EU crumbling in the near future. The reason is that it is based on political standing to spread peace within Europe. He also says that it is important for the union to hold together as too much is at stake. However the union economies will have to undergo some organizational changes. The UK economy is surprisingly high even after the Brexit The customers went ahead with their usual business as though nothing has happened and thus upheld the entire economy.
The nature of the economic recovery is a bit reassuring. The business will have to be reassured as far as the regulatory and legal activities are concerned if they are to do well. The other thing the UK economy will have to do is to think about the talent shortage experienced across the country. What remains is also to discuss the importance of economic growth and productivity that is necessary for the entire region. There is a lot that needs to be done if the economy has to become a giant again. Antonio says that there is no other place where he can serve better than the back. The most important thing to do is to identify the areas of growth and work on that. He thinks that the bank needs to build customer trust.