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The IT Project That Brought a Bank to Its Knees

Sir Christopher Kelly, a former British senior civil servant, recently produced a damning report, which reviewed the events that led to the £1.5 billion capital shortfall announced by the U.K.’s Co-operative Bank in June 2013. This shortfall resulted in its parent, Co-operative Group, ceding control of the bank to bondholders, including U.S. hedge funds.

Read the source article at HBR Blog Network


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