Posted on November 19, 2018 by staff

TSB hires ‘outstanding’ CEO after tech crisis


TSB has named Debbie Crosbie as its new chief executive after the departure of former boss Paul Lester.

Crosbie will be joining the bank in 2019 from CYBG plc, where she has worked for over 20 years. Her start date is yet to be announced and her appointment is still subject to regulatory approval.

Crosbie’s appointment comes after Paul Pester announced his resignation after seven years as CEO. It followed TSB’s high-profile IT crisis earlier this year, which left hundreds of thousands of customers unable to access their bank accounts.

TSB’s Richard Meddings, who will continue in his role as executive chairman, said Crosbie “stood out” in an impressive field of candidates.

“With over two decades of experience, superb retail and SME banking expertise, and a genuinely open and engaging style of leadership, we have found an outstanding new CEO,” he added.

“What’s more, Debbie brings a clear challenger mindset to TSB and she shares our vision for what a strong challenger bank can achieve for customers.

“I’m confident that Debbie will have great chemistry with the TSB Executive Team and together they will drive our ambition to become the leading challenger bank in the industry.”

Meddings went on to say that TSB can look forward with “renewed ambition”.

Crosbie is currently chief operating officer at CYBG, the holding company behind Clydesdale Bank and Virgin Money.

She said she has “known and admired TSB for many years”.

“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,” she added.

“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.”