Antonio Horta Osorio talks on Bretix and Uk economy.
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 has sold its shared held with the bank sometimes back.The government decides to release its shares from the bank sometimes back. That forced the bank into a crisis due to financial constraints. 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 does not mean that they are not facing challenges as the bailout was not something to ignore. During its process of recovery, the bank closed several branches and cut off several jobs. That was a significant turnaround for the bank, but as a result it has begun reporting some profits.
The effect of Bretix continues to haunt the British economy. One of the ways that the bank thinks will help is to strengthen the ties with the customers. On that note Antonio is focusing on pushing the bank forward to develop a multichannel experience with its clients. This is what the CEO believes in connection with Brexit and banking. The banker thinks that nothing is about to put the EU apart in the near future. 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. However the union economies will have to undergo some organizational changes. The UK economy is surprisingly high even after the Brexit The economy was able to withstand the storm because the consumers went ahead with buying as usual.
The economy recovery shows some reassuring signs of its growth. 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. The banker says that much remains to be done to stabilize the UK economy once again. Antonio says that there is no other place where he can serve better than the back. All that is important is to focus on areas of growth. He thinks that the bank needs to build customer trust.