LONDON (Reuters) – Three senior executives are to leave Britain’s TSB bank in the coming months, the mid-sized lender said on Friday, but added that none of the departures are related to a recent IT outage that plunged the bank into chaos earlier in the year.
Nigel Gilbert, TSB’s chief marketing officer and Ian Firth, its treasurer, will retire at the end of September, while human resources director Rachel Lock will leave the bank at the end of November, the bank said in a statement.
The management changes had been planned for some time, a spokeswoman said, and were not linked to the botched IT upgrade, which prompted one of Britain’s worst banking outages and a tough few months for TSB’s customers, staff and reputation.
Paul Pester, TSB chief executive, faced questions from politicians over whether he was fit to continue in his role due to his handling of the crisis.
The CEO said in a statement on Friday that Gilbert, Firth and Lock had been with TSB since the “early days” when it was brought by Spain’s Sabadell <SABE.MC> and returned to a standalone brand after being split off from its former parent, Lloyds Banking Group <LLOY.L>.
“I’m incredibly grateful for everything they have done to support TSB and I wish them all the best for the future,” he said.
Pete Markey, currently TSB’s marketing director, will succeed Gilbert as chief marketing officer, while deputy treasurer Alison Straszewski will be promoted to treasurer. TSB said it was in the process of securing a new HR director.
The executives take up their positions just as the bank gets back to normal after the outage, which left customers locked out of their accounts for extended periods while staff struggled to help. It has so far cost Sabadell more than 200 million euros (£179.4 million).
The outage occurred just as TSB was preparing to step up its push to win market share of Britain’s biggest lenders with a move into business banking.
(Reporting by Emma Rumney; Editing by Edmund Blair)