View more on these topics

HBOS uses fake name to hide £500,000 event

HBOS used a fake name to book a £500,000 event in order to avoid public criticism.

The part state-owned bank made the bookings under the name “One Team” and managers at the Birmingham NEC were sworn to secrecy over who was arranging it, according to reports in the Daily Mirror today.

A year ago, HBOS came in for criticism after it organised a black-tie party for managers and a conference at the ICC in Birmingham after taking the Government bailout.

The party was eventually cancelled due to the outcry though the conference went ahead.

A Lloyds spokesman said: “This is an important annual event that is used to update colleagues within our Community Bank about the company’s future plans. In line with most major organisations, we remain very sensitive to the financial pressures people are facing up and down the country; we continue to keep a close eye on all our costs, including events such as these.”



Show us the evidence to justify the RDR

The two most burning questions about the RDR, it seems to me, are just what aspects of the industry is the FSA aiming to fix and in what way will the requirement of higher examination standards address these issues? For example, is there any meaningful body of evidence to suggest any direct link between inappropriate […]

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]


News and expert analysis straight to your inbox

Sign up


There are 4 comments at the moment, we would love to hear your opinion too.

  1. These bankers live on planet ZOD …Flog them ..water board them ….then electic shock treatment them …Saddam did less damage to world peace ..than this bunch of Bankers…sorry did i spell Bankers with a B or a W ..Sorry.should have been ..W

  2. I’m all for having a Christmas party, but what’s that, £500,000 for 3,000 guests – £166 a head? How much of a contribution did the troops on the front line get towards their Christmas parties this year (assuming they were actually allowed to hold one)?

  3. I was at this conference. One Team is not a fake name, it’s something Halifax retail has been working on for most of the year – bringing staff in banking, mortgages, and bancassurance together as One Team (and yes these are the troops on the front line, re Sir Malcs posted comment). The idea being to deepen customer relationships rather than just look for more customers thus increasing profitability. It was by no means a ‘Christmas do’ I can promise that, in fact is was quite boring, but essential for everyone to get the same message. If the One Team thing works then it should increase retail profits by £26m, so not a bad investment potenitially. As for xmas parties, the company budget was £35 per head this year. Some attendees at the conference had decided to go the night before and stay over (at their own expense), and have a night in Birmingham (at their own expense).

  4. It’ll be interesting to learn how many hundreds of thousands of pounds of our money the FSA blows on this year’s Christmas bash.

    £214,000 last year and apparently it wasn’t even very good. One might reasonably expect that in view of the salaries the FSA pays, plus the desirability of setting a good example in these difficult times plus, of course, what the FSA claims on its website about how it aims to use its resources in a prudent and cost effective manner, that those who wish to attend would be asked to meet half the cost. Hardly unreasonable, is it?

    What chance of that, I wonder?

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm