Antonio Horta-Osorio on Brexit issues
Antonio Horta-Osorio is the CEO of one of the biggest retail bank in the United Kingdom. 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 thought to get a boost from the government a move which saw the government own up to forty-three percent of the bank. The bank now is moving in the right direction and making profits. CEO Antonio has been in the lead since 2011. His Joining the bank has been a big boost as it is now making profits once again. That does not rid the bank from challenges because the bailout from the government is looked at as something that is quite a challenge. 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 change and the effects of Brexit is a major factor in the economy of UK. One of the major strategies the banker is looking forward to is to increase the customer relationship with the bank. On that note Antonio is focusing on pushing the bank forward to develop a multichannel experience with its clients. The CEO has this to say about Brexit and banking. The banker thinks that nothing is about to put the EU apart in the near future. It is politically founded to ensure there is peace in Europe. He also believes there is too much at stake for the union and it should just hold together What is important is the union members’ economy to suffer some structural reorganization. The economy of UK did not sink even after 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 UK economy will also need to address the shortage of skills that exist across the economy. Other than that there is need to address the productivity issues as well as the importance of economic growth across the country. 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. All that is important is to focus on areas of growth. He says what the bank is doing right now is the increase its customer confidence.
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