Ricky Knox, CEO at Tandem, thought that customer loyalty should be rewarded rather than penalised: “This could be a boon for specialist banks and pull down some of the unfair competitive advantages that the big banks enjoy. In theory, this could delete the big banks’ back-book savings advantage, but I suspect it will more likely drive down front-book returns.”
There’s an investor out there that fits your idea,” says Tandem co-founder Ricky Knox when we ask him for his golden insight on the world of investment. “You just have to find them.” It’s a sage piece of advice, almost proverbial. But then Knox, who set up his uber-successful challenger bank back in 2013, is most definitely a man to listen to.