Lloyds chief says banking industry reputation is turning away graduates

Antonio Horta-Osorio
Antonio Horta-Osorio
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Antonio Horta-Osorio will tonight (Mon) speak of his concern at the reputational impact of the financial crisis and how that is having a negative impact upon the banking industry’s ability to attract young people.

The chief executive officer of the Lloyds Banking Group is speaking at Oxford University’s Said Business School and his speech coincides with Lloyds research of a potential talent drain.

It found over one quarter of students (28%) surveyed, would be too embarrassed to tell friends if they are going to work in a bank.

Also, 41% of students distrust banks and financial services providers and 56% trust banks less than they did five years ago.

Young graduates are more likely to choose a career in the Public Sector (26%) rather than banking/financial services (2%) and 58% said an organisation’s reputation would influence their career decision.

Mr António Horta-Osorio, said: “We need to take steps as a sector towards rebuilding our reputation through how we behave and what we do.

“In tandem with this we urgently need to address the perception of banking as an attractive career opportunity for young people.

“The next generation should see banking as an industry that helps to build economic wealth and is playing its part as a useful member of our local communities.

“We want the best and the brightest to see banking as a credible career choice. This is vital for the industry’s long-term viability.”

Mr Horta-Osório will set out in his speech how Lloyds is committed to helping to change perceptions of the industry which includes offering more support for first time buyers and small businesses.