The difference between Tesco and RBS

An interesting little insight into Tesco and Sir Terry Leahy came out of this week’s Retail Bulletin Loyalty Conference. Steve Gray, former MD at dunnhumby and now chairman of Emnos, recalled the time in 2004 when dunnhumby client US-based Kroger was looking to do a banking joint-venture with RBS.

Sir Terry: Top of the pile

Such a deal would have emulated the j-v that Tesco had put in place with RBS and during this time RBS chief Sir Fred Goodwin (I think he is still a ‘Sir’) was asked what he thought of Leahy. His response says a lot about the respective individuals and also helps explain a litte about how their companies have ultimately ended up where they have. “Terry is a terrific guy but he really does believe all that customer shit,” said Goodwin.