Rob Yang (TD) EXPOSED

According to ratings dynamo J.D. Power, retail banks in Canada are losing touch with customers as:

1) Profits climb, and
2) Satisfaction declines.

Let's consider a concrete example of this.  TD Bank.

Where top manager Rob Yang spends much of his time consuming double portions of processed meats and cheeses.

All washed down with a sugared cola drink.

"The International Agency for Research on Cancer (IARC) has classified processed meat as a carcinogen, something that causes cancer. And it has classified red meat as a probable carcinogen, something that probably causes cancer. IARC is the cancer agency of the World Health Organization. Processed meat includes hot dogs, ham, bacon, sausage, and some deli meats." (Stacy Simon, World Health Organization Says Processed Meat Causes Cancer, American Cancer Society, 26 Oct 2015)

Meanwhile, many TD customers were joining the BC Healthy Living Alliance.

BIG BANK ALIENATES HEALTH CONSCIOUS CUSTOMERS

When they saw Rob Yang's twitter feed, quite a few of them pulled their business from TD.

Which is really no surprise given that "J.D. Power captures the opinions and perceptions of millions of consumers annually. Our benchmarks are accepted as the key performance indicators for their respective industries, and our data and insights are used by companies worldwide to improve quality, satisfaction, and business performance. Consumers recognize and trust the J.D. Power brand." http://canada.jdpower.com/

Obviously, Rob Yang has every right in the world to eat what he wants.  But it's just bad business to deliberately alienate TD customers by bragging about his junk food excesses on Twitter.

But let's say that Mr. Yang's culinary practices are in private life, and at the bank he's all business?

"IT'S NOT AN ACT, BUT A HABIT"

Obviously, "We  are what we repeatedly do."  (Rob Yang tweet at right)

Rob Yang's junk food addiction is not an act, but a habit.  (Rob Yang tweet at right)

A habit which has defined his life, both in free time and at the bank.   So much so that Rob Yang's colleagues have been getting concerned about his bad habits.

So Shaauna Maarson baked some cupcakes -- to support the Canadian Cancer Society.

While its wonderful that the TD employees stick together, it's difficult to understand how selling cupcakes -- in a bank, on company time -- contributes to good customer service.

"“When a retail bank increases fees and trims back on its core services to customers for the sake of increasing profits, they may be losing touch with one of the most important aspects of their business survival—the customer,” said Jim Miller, senior director of the banking practice at J.D. Power" (J.D. Power Canada, Retail Banks in Canada Losing Touch with Customers as Profits Climb while Satisfaction Declines, 30 Jul 2015, http://canada.jdpower.com/press-releases/2015-canadian-retail-banking-satisfaction-study):  "I attempted to email them and request that they apply the amounts correctly, I did this 2 months in a row. Every time they said that I must contact there 1800 number. As I new would happen, 

NO TIME TO FIELD TO HELP THE CUSTOMER BECAUSE THEY WERE HAVING AN OFFICE PARTY

they refused to speak to me".  http://td-bank.pissedconsumer.com/worst-financial-company-out-there-20160415830514.html

Why should bank management interrupt their hot cocoa party -- on company time, on the premises -- to take a call from some lowly customer?

Of course, Yang and his team often slip out of the office -- to hit the amusement park:

PLENTY TO CELEBRATE -- PROFITS ARE CLIMBING

“Retail banks that make their short-term earnings at the expense of their customers are trading long-term customer loyalty for short-term profits" (J.D. Power Canada, Retail Banks in Canada Losing Touch with Customers as Profits Climb while Satisfaction Declines, 30 Jul 2015, http://canada.jdpower.com/press-releases/2015-canadian-retail-banking-satisfaction-study):

"Shame on you TD bank. They collect Non TD ATM fee & Balance Inq fee (never heard of it before) for a withdrawal. Also the ATM company charges fee on withdrawal too. Since TD does'nt have a wide ATM network, you have no other choice other than to pay their hefty fee. So for getting your cash you pay $9.75 (Below is what they Charged.) Stay away from TD." http://td-bank.pissedconsumer.com/atm-fee-20160412828247.html 

GETTIN' DOWN TO BRASS TACKS

Obviously, they're not at the fun park all the time:  "If you should ever go into hardship this bank is the worst to deal with. It was the worst decision of our lives. They will move to foreclose on you if you stop paying. They will not budge and will not lower interest rates.  They have the most unfair debt to income ratio system for loan modification.
They think everyone is rich.  Beware before you sign on the dotted line." http://td-bank.pissedconsumer.com/home-equity-loan-nightmare-20160409826967.html

"Record profits for retail banks in Canada are being achieved at the expense of customer satisfaction as customers report increased fees and reduced levels of service in the branch and on the phone." (J.D. Power Canada, Retail Banks in Canada Losing Touch with Customers as Profits Climb while Satisfaction Declines, 30 Jul 2015, http://canada.jdpower.com/press-releases/2015-canadian-retail-banking-satisfaction-study)

And they call this "Making our own dessert".