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Ian Kerr has been replaced by Bert Piljs, a former Egg exec-utive, who has run Citi's consumer banking business in the Czech Republic.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.
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