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 sold its shares sometimes back from the bank. That affected the bank financially and entered into crisis. The CEO had to look for support from the government making once again making it own forty-three percent of the bank. Currently the bank is making profits and heading in the right direction. Antonio became the head of the bank in 2011. His Joining the bank has been a big boost as it is now making profits once again. 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 somehow has seen the bank turn around and currently it is reporting 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. 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 has this to say 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. However a number of structural reforms will be needed in the union economies. 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 nature of the economic recovery is a bit reassuring. The business will have to be reassured as far as the regulatory and legal activities are concerned if they are to do well. The UK economy will have to think on the best way to address the skill shortage that is experienced across the entire economy. Other than that there is need to address the productivity issues as well as the importance of economic growth across the country. The banker says that much remains to be done to stabilize the UK economy once again. Antonio says his contribution to the banking industry is what he values and he does not want to serve anywhere else. He says it is important to focus on where growth can be realized. He says what the bank is doing right now is the increase its customer confidence.
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