TSB CEO Crosbie rings changes with two big hires

TSB CEO Debbie Crosbie

TSB’s new CEO Debbie Crosbie has rung the changes with the appointment of two new senior executives as the bank steps up its turnaround programme following its IT meltdown last year.

TSB recently took back direct control of important parts of its IT infrastructure away from Sabis, the in-house IT provider of TSB’s current Spanish owner Banco Sabadell.

Sabadell chairman Josep Oliu said in March it is possible that TSB could be merged or sold after it completes a turnaround that could take three years.

Crosbie, formerly chief operating officer (COO) at Clydesdale and Yorkshire Bank owner CYBG, recently succeeded Paul Pester, who resigned as TSB CEO after the IT meltdown.

On Wednesday, Crosbie announced Robin Bulloch will be joining TSB as customer banking director, responsible for transforming the TSB customer experience and leading TSB’s services across all channels – branch, mobile and online.

Bulloch joins TSB from Lloyds Banking Group where he is currently Managing Director Lloyds Bank, Community Banking and has also recently led Bank of Scotland, Community Banking.

He previously worked at RBS for two decades, including serving as CEO of Tesco Personal Finance between 2006 and 2008.

Bulloch will be joined at TSB by Suresh Viswanathan, who has been appointed chief operating officer and “will drive the development of all systems, infrastructure and operations across TSB.”

Viswanathan joins TSB after 11 years at Barclays, most recently leading operations and technology for Barclays’ UK ring-fenced bank.

He previously spent nearly 20 years at Citi Group, working across a range of technology roles.

The two new executives will work alongside Liz Ashford, who was recently appointed TSB human resources director ahead of Rachel Lock’s departure later this year.

All three appointments are subject to formal regulatory approval.

Crosbie said: “These three appointments are a significant step forward in the next chapter for TSB.

“They will help to put a much clearer focus on our customers and on improving the TSB experience, as we accelerate our plans to transform and improve TSB.

“I’m delighted that they have agreed to join TSB at such a dynamic time in retail banking and they share our belief on what TSB can achieve.

“Together we share a clear vision of putting customers first, and Robin and Suresh, will bring enormous experience and expertise to TSB.”

Sabadell chairman Josep Oliu said a day before Sabadell’s annual shareholder meeting in March: “TSB is a retail bank with a costly structure, it has to be turned around, for that it needs three years, an adequate return (on equity), then it can be a candidate to enter into a consolidation process …

“A merger or a sale are options.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.