Debbie Crosbie has been named as the new TSB chief executive after Paul Pester stepped down in September.
Crosbie is leaving CYBG where she has been the chief operating officer since January 2015. She will start her new role next year.
Pester stepped down earlier this year following the IT meltdown that took place in April this year, which left 1.9 million customers locked out of their accounts.
The meltdown cost the group £176 million and also the loss of thousands of customer accounts.
Crosbie’s salary will be £914,000 and she will also be eligible for a bonus scheme.
Richard Meddings, who has been temporarily running TSB since Pester stepped down, said: “In an impressive field of candidates, Debbie stood out. 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 chief executive.”
“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 chief executive for the next chapter of the group. As we look to the new year, TSB can now look forward with renewed ambition.”
The new chief executive 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.”
The banking group used to be owned by used to be part of Lloyds Banking Group (LON: LLOY) but was bought by the Spanish group Sabadell (OTCMKTS: BNDSY).
