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Tesco’s Higgins moving home, but what’s in store?

Benny HigginsBenny Higgins, chief executive of Tesco Bank, has put his Georgian townhouse on the market, sparking more speculation about his plans.

Higgins’ home Edinburgh’s New Town is now on the market with a £1.9 million asking price.

He recently added a group-wide strategic role to his duties, leading some to conclude that he will lead a flotation of the Edinburgh-based bank.

However, Chatterbox hears that Higgins will be staying in the city and talk of a flotation of Tesco Bank is premature despite the group needing to shore up its balance sheet.

Tesco has just issued its fourth profits warning in two years and while banks are not top of investors’ wish-lists, Britain’s biggest grocer has done well with Tesco Bank, launching a mortgage and current account, and it could prove a popular issue.





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