Bank CEO Antonio Horta Osorio gives views on Brexit
Antonio is the CEO of the largest retail bank in the UK. Many are the times when the CEO has been on the headline speaking about various issues about the bank in the year. The government has sold its shared held with the bank sometimes back.The government decides to release its shares from the bank sometimes back. 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. The bank right now is back on its feet and making profits. CEO Antonio has been in the lead since 2011. That has seen the bank turn around into fortunes gain. That does not mean that they are not facing challenges as the bailout was not something to ignore. As a recovery strategy, the bank had to close some outlets and also to lay off some workers. 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. One of the ways that the bank thinks will help is to strengthen the ties with the customers. In that line what the CEO is focusing on is to propel the bank in developing a multichannel experience with the customers. The CEO said something about Brexit and banking. One thing that Antonio finds is that EU is not about to disintegrate anytime soon. It is seen as a political tool to move peace across Europe. He also says that it is important for the union to hold together as too much is at stake. What is important is the union members’ economy to suffer some structural reorganization. The UK economy has amazingly portrayed some stability even after 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. 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. The economy will have to address the productivity issues and the need to grow in the whole area. There is a lot that needs to be done if the economy has to become a giant again. Antonio says his contribution to the banking industry is what he values and he does not want to serve anywhere else. 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.