{
  "id": 4999922,
  "title": "Can OSB’s new boss cut through the noise?",
  "url": "https://urgent.news/2026/09/02/can-osbs-new-boss-cut-through-the-noise",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T03:02:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/can-osbs-new-boss-cut-through-the-noise/"
  },
  "original_language": "en",
  "account": "In a new leadership role at OSB, Enrique Labiano faces several challenges. The former Santander chief, who spent eight years at McKinsey, was appointed to lead the bank's retail arm after being passed over for the top UK job at Santander. OSB is currently navigating a turbulent period, with its share price trading 10% below the sector average multiple times since 2021. This volatility has been outpaced only by a few other banks, such as Close Brothers and Metro Bank. Labiano will need to work on improving the bank's reputation, as it has struggled with critical headlines in the past. These include a delay in results due to potential fraud and a profit warning related to customers refinancing faster than expected. Additionally, Labiano will have to address takeover speculation, as OSB is frequently mentioned in discussions among investment bankers. The bank's share price has dropped over 20% since January, partly due to a series of disappointing updates. One of the key issues Labiano will face is the downgrade in return on tangible equity (RoTE), which measures the bank's efficiency in generating profits from its core assets. The RoTE was previously in the low teens but has been downgraded to 12.5%, reflecting the more competitive lending market and elevated funding costs. However, Labiano does have some positive news to work with. The bank is set to benefit from changes to MREL capital buffer rules, which were introduced in the aftermath of the 2008 financial crisis. This change has raised the lower bound of the buffer threshold to £15bn, providing OSB with a potential £35m annual revenue boost from replacing expensive debt with lower-cost retail deposits. Furthermore, analysts suggest there is scope for OSB to further reduce its capital target by another 50 basis points, unlocking an additional £80m in capital.",
  "summary": "A FTSE 250 bank has a new boss and plenty of challenges to confront . In this week’s column, Samuel Norman looks at what could be next for OSB. Enrique Labiano confronted a tricky inheritance when he got his feet under the desk on his first day at the helm of OSB on Tuesday. The [...]",
  "key_points": [
    "Enrique Labiano leads OSB's retail arm after being overlooked for top UK job at Santander.",
    "Bank faces challenges with share price 10% below sector average and reputation issues.",
    "Labiano benefits from MREL capital buffer rules, unlocking potential £35m annual revenue boost."
  ],
  "editors_take": "Enrique Labiano's appointment as OSB's new boss brings potential for change, but must address takeover speculation, reputation damage, and efficiency issues to restore investor confidence and improve financial performance.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}