Marks and Spencer

Andrew Hill

I wonder what Sir Terry Leahy, former chief executive of Tesco, makes of the fanfare about rival UK retailer Marks and Spencer launching a bank with HSBC. According to Marc Bolland, M&S boss, the rationale for putting 50 bank branches inside its stores goes as follows:

This bank will be built on M&S values; putting the customer at the heart of the proposition and delivering the exceptional service that sets us apart from the competition.

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