Month: June 2014

The John Lewis of banking? TSB says Yes

 

Can the TSB claim to be the John Lewis of Banking?  Following my blog post last week questioning that claim, here is the detailed response from Anthony Hus, Media Relations (Corporate) Manager at the TSB.

I read with interest your recent blog titled “The ‘John Lewis’ of banking? Not with this level of bonus” and thought you might like some further background on TSB’s new reward strategy and how we see this as a step forward for the banking industry, as well as how it compares to the John Lewis Partnership model.

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The “John Lewis” of banking? Not with this level of bonus

It’s a measure of how inured we have become to the excesses of bankers, and how numbed by high numbers, that when TSB announced its pay policy recently a limit on the maximum pay of its chief executive to £1.65 million — 65 times the average salary of its ordinary staff — could be presented as modest.

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