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Ian Kerr has been replaced by Bert Piljs, a former Egg exec-utive, who has run Citi's consumer banking business in the Czech Republic.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.
Sales of the tablet are set to fall again, say analysts
Met Police confirm that there was a 'minor disturbance'
Trend which requires crisps, a fork and a strong stomach is sweeping Mexico's streets
George Lucas criticises the major Hollywood film studios
Does Chris Grayling realise what a vague concept he is dealing with?
Parties threaten resort's image as a family destination
I Am Bread could actually be a challenging and nuanced title
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake report claiming the street artist's identity has been revealed
- 3 Are you ready for Crazy Doritos, the red-hot snack food craze sweeping Mexico’s streets?
- 4 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
- 5 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Isis in Kobani: US resupplies Kurdish fighters by plane - then Turkey allows reinforcements through its border
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Banksy arrest hoax: Internet duped by fake report claiming the street artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
iJobs Money & Business
£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...