Saturday, October 20, 2012

What a Bunch of ...

... nice tea (pizza) - just checking e-mails etc on return and I find this pile of cr*p in my inbox ...

Dear Mike Smith,

An all-star cast of senior UK bankers assembled at the British Bankers’ Association’s annual conference in London this week to debate the future and culture of their much-maligned industry.

The chairmen of the five biggest banks headquartered in the UK spoke yesterday at an afternoon panel discussion entitled 'Banking 2020: A Vision for the Future'. Sir Philip Hampton of Royal Bank of Scotland, Sir Win Bischoff of Lloyds Banking Group, Sir David Walker of Barclays, Sir John Peace of Standard Chartered and Douglas Flint of HSBC, were interviewed by Laura Kuenssberg, the business editor at ITV News.
The panel focused on the familiar themes of regulation and pay in the UK banking sector, 
The panel agreed that the structure of remuneration in the City needed to change and that levels of pay would continue to fall.
Sir Philip Hampton at RBS said that pay had been “grotesque” in the past, adding: “It was completely out of line with pay in other sectors and completely out of line with shareholders returns.”
Bischoff said the industry needed to “get back to basics” to be able to justify pay and that it also needed to work harder to “explain what those basics are”. He added: “There is a mystique about banking, we have to demystify it.”
Walker said that focusing pay on revenue generation alone had been negative for the industry. He argued for bonus decisions to be made using a “scorecard approach in which revenue generation plays no part”. is still seeing trends with new candidates looking for more pay as they change jobs and successfully move to their next role, generally with more pay. Maybe the time is right to make that move before regulations about pay start restrict the hiring process.

To be honest I REALLY feel for Douglas Flint ... the only one without a knighthood ... nice to see the small (bad grammar !!!) endpiece from the recruitment company i.e. "get in now before the pay goes down" - kind of negates all the sanctimonious claptrap that went before !!

...and it's a fond farewell to Chief Whip Andrew Mitchell I see as well - maybe he'll have to join us "plebs" in the real world - somehow I doubt it though.

Apologies for the politics overload this evening ... but "we are all in this together" I believe - ha !! ... let's get work/overtime out of the way ... and Frith willing I'll get some "pleb sport" later today ...

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