TSB named Most Admired Financial Services Company after banking relaunch

• TSB vaults to #1 on Most Admired Lenders list • Pelley added ‘I hope that people around the world consider us’ Keith Pelley, chief executive of global TV network Discovery, has said golfers…

TSB named Most Admired Financial Services Company after banking relaunch

• TSB vaults to #1 on Most Admired Lenders list • Pelley added ‘I hope that people around the world consider us’

Keith Pelley, chief executive of global TV network Discovery, has said golfers and the sport’s international governance should accept that broadcasters have paid enough for their coverage, after the TSB bank vaulted into the top spot in a study of the world’s most admired companies.

TSB were named the most admired British financial services company after a major corporate overhaul, relaunching itself under the name First Direct, and gaining new banking licences after failing to progress from the eighth position in the 2016 survey. The bank scooped the #1 spot for the first time.

In contrast, HMV dropped out of the top 10 for the first time in eight years in this year’s annual report, which it conducts as part of an annual survey of more than 3,000 company executives across 18 countries.

“I am very impressed by TSB for winning our Most Admired Financial Service Companies list. Clearly, their large customers have noticed, as TSB had the only new addition to the top 100 this year,” Pelley said.

“I hope that people around the world consider us – and the TV partners we’ve forged – as a leading company. However, football is a global game, and TV deals are simply a reflection of where it’s found its highest TV audience. We don’t put sports rights on the front page of our earnings releases or talk about it in our conferences, so we can’t expect the players to agree with us on this. But let’s not forget, we’re the biggest TV rights buyer in Europe and have the most quality content of any European sports broadcaster.”

The economy, in contrast, retains the position as the most admired business in the UK and overall for a second consecutive year. In the top 30 rankings, engineering, which did not make the top 100 last year, was firmly established, with the Thomas Cook group and software giant SAP in third and fourth respectively. Britain’s automotive industry in fifth, followed by “technology, media and telecoms”, rounding out the first five slots in the top 30.

The 100 Most Admired Companies ranking is based on the views of chief executive officers across the globe, as they disclose their most important company priorities in their annual annual reports. The number of companies with a British presence was 53, excluding HSBC and Travelex.

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