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As shares keep falling, doubts remain about HBOS board



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Published Date: 23 June 2008
By Bill Jamieson
SCRUTINEER
MY CRITICAL article on HBOS here last week drew a swift response from the bank and a heavier than normal e-mail and "snail mail" response from readers – as might be expected for a company whose shares are held by 2.1 million private investors. The re...



The full article contains 1012 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 22 June 2008 7:53 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Scrutineer
 
1

Evan Owen,

Snowdonia 23/06/2008 07:44:56
What can the Board, or anybody else, do about what is now afflicting all banks? I am old enough to remember what a bank was supposed to be, it offered a current account, a loan and, if you were lucky enough, a mortgage. It took deposits which it then used to lend, prudently, to its customers and ONLY its customers. It didn't offer credit cards so it hardly ever saw a 'default', it didn't sell pensions or mortgage endowments so it didn't have problems with 'mis-selling'. Fancy financial instruments or derivatives were unheard of and if they had been around the bank would have avoided them because they are RISKY.

When banks return to their roots they may become more stable institutions, until then the ordinary person can only watch them and hope they don't fall over.
2

Mallory,

Edinburgh 23/06/2008 08:28:43
Totally agree. The 'Bonus' culture did for prudence.
3

Golfie,

Edinburgh 23/06/2008 09:37:43
It appears to me that it is time that Mr Hornby and his Halifax colleagues are actually asked to justify their obscene packages including the huge share options given to the gentleman to ensure he stayed with HBOS. Strikes me that their rape and pillage of a robust trusted Scottish institution (' Poundstrecher taking over Harrods') is now coming home to roost. Shame that these individuals are so lost in their own importance to understand what the honourable thing is to do in these circumstances!
4

leofric,

not scotland 23/06/2008 12:10:32
some of the comments - golfie - reflect the almost racist attitude of former BOS customers and staff - who don't take into accountthe factthat the "robust" institution couldn't find a way into the 21st century on it's own - the recent performance of HBOS can be criticised but like the economics of this government, have been brought about by too many scots being involved
5

Aye Right...,

23/06/2008 12:57:15
#4 Where did Golfie mention race in his comment? He is drawing attention to the fact that BoS is being managed by someone with no banking pedigree and has little experience of the financial industry. If you think poor service and incompetent management is acceptable then open an account.
6

YYZ_2112,

Rosyth 23/06/2008 23:26:12
I could not agree with the comments more, and in particular to ex-BOS colleague Jim Fiskin. As a current member of staff with 13 years service under their belt..joined 1995 when the likes of Peter Burt/Gavin Masterton were in charge...Halifax have ruined BOS. BOS computer systems streets ahead of Halifax, but no, migrate the accounts to Halifax systems. Relentess targets in Branches & Contact Centres to name a few, Business Centres charged with the most basic and straightforward customer/account admin and making a sheer hash of it..what do you expect from level 1 staff on £10-12,000 a year ? Complaints through the roof.
Those ex-BOS directors sold BOS down the river, and now the chickens come home to roost. ps...mailshot from Unite today...looks like more redundancies onway
Happy Days

 

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