Are we seeing the emergence of a new guard in the UK banking sector?
As many of the old guard continue to be forced out of office by various banking shareholder groups a number of analysts believe that we are on the verge of a new dawn for the UK banking sector. However, with such figures as Sir Victor Blank and Sir Fred Goodwin to name but two now forcefully ejected from their office there is a concern that the vast array of experience and knowledge gathered by these people over decades in the industry could be lost.
The UK government has installed a number of "yes men" to look after shareholder, and in particular taxpayer, interests in the short to medium term but whether these people have a long-term plan or long-term strategies remains to be seen. More and more we are seeing strategies and organisations apparently made "on the hoof" often responding to severe criticism by individuals and corporate shareholders together with a number of press related campaigns.
Even though we may see the likes of Sir Victor Blank and Sir Fred Goodwin return in an advisory capacity at some stage, for all their short-term problems, these are people who have been there, done it and seen everything in the UK banking sector.
Share this..
Related stories
Taylor Wimpy see signs of improvement in housing market
UK housing giant Taylor Wimpy has announced an improvement in the UK housing market after a very difficult period just prior to the election. It is well-known that sales in the weeks prior to the last general election fell although it would look as though interest has improved significantly since the new government moved into office. As a consequence, the company is likely to announce like for lik...
Read MoreThe legacy of George Bush
As George Bush enters his final week in the White House many experts and observers are looking back on his time in office and what, if any legacy, he will leave behind. Unfortunately for President Bush the credit crunch will take centre stage on his future CV due to the very fact it has happened on his watch and at the very end of his term in office. However, aside from the credit crunch and econo...
Read MoreUK government pledges to spend whatever it can to keep people in employment
As we approach the next general election it is no surprise to see Alistair Darling, the Chancellor of the Exchequer, suggest that the UK government will do everything within its means to keep people in jobs, no matter what the cost. Even though UK national debt has now topped £1 trillion and the annual budget deficit is set to top £175 billion this year it seems Alistair Darling is set to pull y...
Read MoreRoyal Bank of Scotland fined £5.6 million by FSA
The Financial Services Authority (FSA) has today confirmed that Royal Bank Scotland has been hit with a £5.6 million fine with regards to a failure to comply with FSA regulations. It is believed that internal monitoring of funds transferred from Royal Bank of Scotland fell below acceptable levels in 2008 with the potential for funding to reach organisations or people facing Treasury sanctions....
Read MoreAlistair Darling targets UK banks yet again
The continuous onslaught of negative press and negative headlines in relation to the UK banking sector continues today with Alistair Darling accusing the banks of a "kamikaze" attitude in relation to loans. He believes that the reckless lending of various banks in the UK, and around the world, ultimately led to the credit crunch and the ongoing recession which we are feeling now. But is the govern...
Read More