ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Intelligence, Insight and community for responsible professionals in credit

TSB appoints new boss following IT meltdown

TSB has appointed Debbie Crosbie as its chief executive, replacing Paul Pester who resigned in September after serious IT failures at the bank.

In April, around two million customers lost access to their online banking services after a botched introduction of a new computer system.

 

The problems left customers unable to access their accounts or make payments, while others were shown incorrect information, and in some cases the details of other people’s accounts.

 

The issues stemmed from when TSB split from Lloyds Banking Group. It continued to rent a banking platform from Lloyds while it constructed its own, Proteo4UK.

 

That system was intended to go live over the weekend of April 21 and 22 as it moved its customers’ data from the old platform to its new one.

 

The problems persisted for months, and in September Pester stepped down over the issues.

 

In July, the bank revealed the IT issues had cost it £176.4m, pushing it into a loss of £107.4m in the six months to June 30.

 

Crosbie joins TSB from CYBG, where she has worked for more than twenty years.

 

She will join the bank in 2019, with a confirmed start date to be “announced in due course”, TSB said. Meanwhile, Richard Meddings will continue in his role as executive chairman, before returning to his previous position as non-executive chairman on her arrival at TSB.

 

Meddings said: “Debbie’s appointment is another step forward against the three priorities we set out in September, namely: completing the work of putting things right for customers; achieving full functionality across all TSB products and services; and appointing the right CEO for the next chapter of TSB.”

 

Crosbie said: “The exciting thing about TSB is just how much potential the bank has to redefine banking to better serve customers and their changing financial needs. Thanks to the skill of TSB Partners, the strength of TSB’s network, and the capabilities within the bank to deliver, TSB has all the right ingredients to be the leading challenger bank in the UK.”

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group