A FORMER Standard Life Aberdeen executive who oversaw £100 million of cuts during his time at legacy firm Standard Life has joined Tesco Bank as chief transformation officer.
Sandy Begbie, who most recently had the title chief people officer and lead executive for China at Standard Life Aberdeen, will take up the new role next week.
According to chief executive Gerry Mallon, who Mr Begbie will report to, the role will see Mr Begbie “drive forward change” at the bank, although he did not stipulate what form that change would take.
“The role he will lead is vital to ensuring that we drive substantial positive change for our customers,” he said.
Unlike traditional high street banks, which are grappling with how best to serve their customers in the digital age, Tesco Bank is not encumbered with having to rationalise a large branch network.
Formed in 2007, the bank allows customers to deposit or withdraw money at customer service desks in a number of its stores, although most of its business is conducted online.
Mr Begbie said he was joining the organisation at an “exciting time in its development”, adding that he believes he has “a great opportunity to make a real difference for Tesco customers”.
During his time at Standard Life Mr Begbie oversaw a £100m cuts programme that saw a net 500 positions culled.
As part of the restructuring, which began in 2010, over 100 IT roles and 95 customer service positions were cut.
Prior to joining Standard Life in 2010, Mr Begbie was HR director at Aegon, having started his career at Royal Bank of Scotland. He also held various roles at Scottish Power between 2001 and 2007.
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