'We've listened' | Lloyds chief admits staff data row 'created concern' during pay talks

The chief executive of Lloyds Banking Group has admitted that the lender’s use of employee bank account data during pay negotiations “obviously has created some concern”, after criticism over how the information was deployed.

Charlie Nunn said the bank had “definitely listened” following backlash over its decision to compare the spending habits of around 30,000 staff who bank with Lloyds against those of its wider customer base. The approach was used during negotiations with unions to assess whether employees had weathered the cost-of-living crisis better than the general public.

Town hall comments revealed by The Times

Speaking at a recent town hall with staff, Nunn acknowledged the unease sparked by the disclosure. In comments first reported by The Times, he said: “We haven't yet fully worked out what we will do differently going forward, although I think we should just do the investigation fully.”

During the same event, he made clear that he stood by the approach taken by the bank, despite recognising the concerns it had generated.