Banks Distracted by Battle with Regulator; CITY COMMENT
Byline: Anthony Hilton
COMPANY executives can become obsessed with regulators and the threat of Government interference. Years ago in the period shortly after they were privatised, BT and British Gas both became fixated by the regulator and went through a period in which all corporate development, other than manoeuvres designed to thwart or minimise his ability to "interfere", came to a halt.
In the medium term, neither group benefited from the obsession, and neither for that matter did the reputation of either chief executive. Regulation was just one of many issues that management should have managed -- it should never have been allowed to become an obsession.…
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Publication information: Article title: Banks Distracted by Battle with Regulator; CITY COMMENT. Contributors: Not available. Newspaper title: The Evening Standard (London, England). Publication date: September 17, 2009. Page number: 41. © Not available. COPYRIGHT 2009 Gale Group.
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