Man who culled Egg borrowers resigns
Wednesday 12 March 2008
The man responsible for Egg's controversial clear-out of 7 per cent of its credit card customers has resigned after less than a year heading the UK operations of Egg's parent, Citigroup.
Ian Kerr has been replaced by Bert Piljs, a former Egg exec-utive, who has run Citi's consumer banking business in the Czech Republic. Mr Kerr is understood to have resigned without lining up another job.
Egg provoked outrage in January when it said it would stop lending to 161,000 credit card customers because they were a poor credit risk. Many customers came forward to say they had never missed a payment, and accused Egg of jettisoning them because they did not borrow on their cards and were therefore unprofitable. Egg insisted that credit risk was the reason for the decision.
Egg said Mr Kerr had completed most of the integration of Egg after Citi bought it last year and that his departure was not related to the decision to cut off credit to Egg customers.
Mr Kerr joined Egg in November 2006 from HBOS, where he was head of retail banking. Two months later Prudential, which owned Egg, announced that it was selling the business to Citi. Mr Kerr took over as head of Citi's UK consumer business in May when the deal went through.
George Awad, chief executive of Citi's European, Middle East and Asian consumer business, said: "Ian has played a critical role in helping us to integrate the Egg business into Citi and he has also developed our strategy for a single unified business in the UK."
Mr Piljs joined Egg from Citi in 2001 and was responsible for banking products. He joined American Express in 2003, and rejoined Citi in 2005.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...