Credit Agricole’s “Safe Pair of Hands”

Credit Agricole’ “Safe Pair of Hands”

Outgoing Credit Agricole CEO, Philippe Brassac, will be replaced by a safe pair of hands in the form of Olivier Gavalda. Brassac is compelled to leave the position due to his age of 65 and the bank’s age protocols. Gavalda has spent his entire career at the French bank and will be tasked with maintaining the bank’s steady progress and dealing with the competitive landscape in Italy.

Horizon Predecessor Contained Bugs

Yesterday saw the end of the Post Office inquiry but also the revelation that Capture, the software package was also full of bugs. A report by Kroll concluded that false shortfalls were also created leading to further pressure of the Pos Office’s postmasters.

Barclays Loses Car Loan Case

Barclays has lost a case against the Financial Ombudsman Scheme concerning a single car loan. FOS accused the bank of acting unfairly by adding a £1,300 commission to the cost of a loan and, as a result, charging a higher interest amount. The bank said it will appeal the case. We are now looking at possible compensation totaling £30 billion for customers who were unfairly treated in this market.