Hubris: How HBOS Wrecked The Best Bank In Britain - Plot & Excerpts
He took the new title of Chief Executive, concentrating on growing the group by acquisition. His old title, Treasurer, which went back to the early days of the Bank, was now effectively managing director of the domestic banking and finance operation, and he gave it to his brightest lieutenant, Peter Burt. Burt, like Pattullo, was middle-class, having been educated at Merchiston, one of the more academic Scottish public schools, and St Andrews, smallest, oldest and most exclusive of the Scottish Universities. After graduating he had taken an MBA degree at the prestigious US Wharton business school and started his career with Hewlett Packard, one of the new breed of successful computer companies where the management style could not be more different from that of Scottish banking. Hewlett Packard had open-plan offices and its shirt-sleeved employees called each other by Christian names no matter how junior or senior. Even the founders were known as Bill and Dave. Chains of command were short and hierarchy was not important.
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