Future of banking

Senior executives share their thoughts on the future of banking

At conference, we try to give delegates an opportunity to hear directly from the employers, and to put members’ questions to them. We were pleased to welcome two senior figures from LBG and TSB to address delegates.

Sharon Doherty, Chief People and Places Officer, LBG

On the first morning of conference, Sharon Doherty joined us in Glasgow. Sharon has been in post for almost two years and, as President Neil Magill put it in his introduction, “she’s committed to creating a culture that attracts and inspires the most diverse, agile and committed talent to thrive and grow.”

In her conversation with Ged, Sharon spoke about her own career before coming to Lloyds, which included roles at Vodafone, at Heathrow and in fintech.

Asked about her highlights from her time at LBG, she expressed her pride in the pay deals the bank has negotiated with Accord in the last two years, which raises the minimum pay in the group to £25,000 by April 2025.

She also outlined some of her key priorities, including upgrading and renovating workplaces and tackling violence and abuse against LBG staff.

Sharon also spoke about the future of banking and the competition from big tech and fintech companies, and the need to ensure that customers feel connected and loyal to their bank.

Robin Bulloch, Chief Executive, TSB

Robin joined us on the second morning of conference, to a particularly warm welcome from our members in TSB.

Robin has been in post since April 2022, but he’s had a four-decade career in the banking sector and a long-standing relationship with Accord. Before moving to TSB, he was Managing Director of Bank of Scotland, and before that he led LBG’s general insurance division.

In a speech to delegates, Robin spoke about some of the changes, negotiated with the union, that he’s most proud of. These include TSB’s enhanced parental leave policy and the carers policy, which allows carers up to 70 hours of paid leave.

He also spoke about the continuing importance of branches as part of TSB’s infrastructure, alongside new approaches like video banking. He described how the melding of automation, digital, mobile, branch and telephony expertise is creating a “super workforce” that’s making a real difference to customers.

He also acknowledged the challenges, including the reduction of the size of the branch estate. But he recognised the role of the union in ensuring these changes are delivered in a way that’s best for colleagues and that minimises job losses.

Robin then took questions from delegates, on how the bank might look in five years, on the potential for new technology to reduce working hours and on the need to support older customers who can’t access digital banking.