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 let the bank is financial crisis. The CEO had to negotiate with the government for a financial boost which later the government owned up to 43% of the bank. Currently the bank is making profits and heading in the right direction. 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 does not mean that they are not facing challenges as the bailout was not something to ignore. To enable to the bank to make some recovery moves, it has to shut down some branches and stop a number of its employees. That somehow has seen the bank turn around and currently it is reporting profits.
The change and the effects of Brexit is a major factor in the economy of UK. One of the ways that the bank thinks will help is to strengthen the ties with the customers. 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 banker thinks that nothing is about to put the EU apart in the near future. It is politically founded to ensure there is peace in 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 Most of the consumers continue as though nothing much has happened to make the economy to appear very healthy.
The way the economy is growing it is giving a bit of confidence. Definitely the businesses will need more reassuring situation about the legal and regulatory environment for their operations. The UK economy will also need to address the shortage of skills that exist across the economy. Other than that there is need to address the productivity issues as well as the importance of economic growth across the country. The CEO believes that to put the economy back, some effort is needed. Antonio says that he is happy with what he is doing in the banking sector and that where he would like to serve. All that is important is to focus on areas of growth. He says what the bank is doing right now is the increase its customer confidence.