What’s the catch?
“… if you’re a bank boss”.
Regnier still works from home one to two days a week, and has been even more lenient with Santander’s 19,000 UK staff, with office-based workers only expected to be onsite two days a week.
“I don’t think it’s absolutely vital that people spend all five days a week in the office as they did pre-Covid,” Regnier says from his sixth-floor office near Euston station in London. “And, actually, had it not been for Covid, I wouldn’t have accepted this job, because I wouldn’t have wanted to be away from home five days a week in London. That wouldn’t have been good for the family or for me.”
This has helped Regnier, who is paid £3.3m to run the UK’s fifth-largest bank, gain a reputation as an “approachable” boss, according to a former colleague
Nobody should be paid that much but he’s an outlier for the industry in allowing hybrid work at least.
I’m alright with someone being paid that much, so long as they are taxed incrementally and heavily.
The catch is none of the lobbyists for the over-leveraged real estate companies have gotten to him yet.
Give it time.
Meanwhile,my asshole employer is doubling down on office return. They’re establishing a quota per group. My group is like 75% not near (over 1 hr drive) an ooffice. They want to allow only 15% to be remote. This insanity serves no purpose
This is the best summary I could come up with:
Halifax Bank of Scotland’s bosses at the time – who regulators said had driven a culture of growth at all costs – accumulated £45bn in bad debts that required a £20bn taxpayer bailout after an emergency takeover by Lloyds TSB in 2008.
The change under Lloyds was palpable, Regnier says, with its then chief executive Eric Daniels running a “more measured culture” where power was not held tightly at the very top.
However, Regnier’s father told him that “in the UK, it’s accountants who run industry”, resulting in him taking a combined engineering, economics and management degree at Oxford.
That was later followed by a master’s in business at France’s Insead, where he met other future City figures including the Prudential Regulation Authority’s chief executive, Sam Woods.
That has put UK regulation and the country’s competitiveness front of mind, pushing Regnier to call for big changes from both Conservative and Labour leaders, which could help open up new funding opportunities for his bank post-election.
Age 52Family Married with two teenage children.Education Engineering, economics and management degree at Oxford; MBA at Insead.Last holiday “A long weekend on the coast near Middlesbrough, watching my son play cricket.”Pay £3.3m in 2023.Best advice he’s been given “Start with a ‘why’.”Biggest career mistake “Not gaining more international experience.”Word he overuses “Why … !
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