Lost banking experience impossible to replace

GREG Wright mentioned in 
his Comment column 
(Yorkshire Post, May 28) that he had been chatting to Dave Jones, a partner in Leeds-based Reward Capital, at an event in Huby and Mr Jones was quoted as saying that “the banks need to push authority back down the line again”.

Whilst this is indeed a commendable suggestion, I suspect that it would no longer be a practical proposition.

Some years ago all the banks had branch managers in their local offices who knew their patches and their customers, had a good level of authority to lend, and who were, more often than not, respected in their communities.

Unfortunately, over the past 20 years, these individuals have been retired early, had their authority diminished, and with much more control emanating from offices far away.

At the same time far too much emphasis was placed on selling other products rather than getting close to customers.

The result is that a vast amount of banking experience has been lost, and it will now be almost impossible to replace.

Many of those now classed as “managers” in the bank branches really are nothing of the sort compared to those in place years ago, to the detriment of all communities.

It is very difficult to see how this can radically change.