![]() “I arrived on Saturday for a five night break and this has totally ruined my holiday. ![]() Matt from South Wales is on holiday in the Canary Islands and has been unable to pay for goods and services thanks to TSB’s botched IT migration: ![]() Photograph: GULIVERIS/Getty Images/iStockphoto The Church of England has also weighed Persimmon in the balance, and found it wanting: Today’s remuneration results suggest that the executive directors at Persimmon have lost sight of that because the long-term success of the company is being endangered by the reputational damage associated with grossly excessive pay!” “The important point I referred to is that regardless of any moral or societal duties, company directors have a legal responsibility to act in the best long-term interests of the company that employs them Stirling said that Fairburn’s offer to reduce his bonus from his legally entitled £110m to £75m “does not even get close to acceptable”. Investors at its AGM are angry at “totally and utterly unjustifiable” multi-million bonuses paid to its chief executive and senior managers, including a £75m award for CEO Jeff Fairburn.Īround 64% of shareholders refused to back the package - either by abstaining or voting against it.Įuan Stirling, head of stewardship at Aberdeen Standard Investments, one of Persimmon’s biggest shareholders with a 2.3% stake, said the “enormous sums” due to Fairburn and other senior managers were “grossly excessive” and have “tarnished” the housebuilder’s name. This is similar to the case of Matt, covered earlier in the blog.īreaking away from TSB briefly, UK housebuilder Persimmon is being given a bloody nose by shareholders. Hopefully we will have access to our money again soon.” We’re now living on water and toasties and down to our last £40. “We’ve been trying to sign up to a divemaster course as part of our honeymoon, but now the internet banking is down we can’t transfer any money. ![]() We would have been sleeping on the beach otherwise,” says 31-year-old Stacey from Dorset, adding: “My husband’s card was blocked but luckily we had friends and family with us who we borrowed from to pay for food and accommodation. Stacey and Louie Brown, who have recently been married in Thailand, had to borrow money from weddings guests to cover their costs. Things then went from bad to worse as I couldn’t log into my bank account to transfer some savings to pay for a new flight.” “I ended up missing my flight to Singapore after my card was declined. Neil De Silva, a DJ and part-time model from Glasgow was unable to pay for additional luggage because he couldn’t get his TSB card to work, leaving him stranded in Thailand: Oliu also stated that “ more than 5.4 million customers are now integrated into the new platform, which allows us to grow in a market as mature and highly competitive as the UK market.” Equally, the Chairman has also stated that the migration will provide a “ greater competitive capacity and increased value creation for our franchise”. The new Proteo4UK platform is an excellent starting point for the organic growth of the business and the improvement of TSB’ s efficiency”. The Chairman, Josep Oliu, has emphasised that “ with this migration, Sabadell has proven its technological management capacity, not only in national migrations, but also on an international scale. It is also the first ever project outside of Spain in which the bank has created a new banking platform from scratch and completed a large scale migration of the platform. The implementation of the new Proteo4UK platform represents a new milestone in the history of Banco Sabadell Group, and particularly in its progress in terms of the bank’s internationalisation. It has released a press release trumpeting the move, even though TSB has admitted there have been problems.Īpparently the new IT platform is a “milestone” for the bank ( although it may feel more like a millstone for some customers right now).īanco Sabadell has successfully completed the TSB technology migration. TSB’s parent company, Banca Sabadell, thinks the IT migration is a success!
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