TSB Bank names Debbie Crosbie as new CEO

  • TSB Bank names Debbie Crosbie as new CEO

TSB Bank names Debbie Crosbie as new CEO

The bank saw a net loss of nearly 17,000 current account customers in the second quarter of this year following a systems outage, data from payments authority Pay.UK showed.

Chief executive David Duffy said: "Debbie has made a significant contribution to CYBG over more than 20 years with the group, including as the interim chief executive officer of Clydesdale Bank prior to our demerger, and as an executive director and COO of the newly independent Group following our initial public offering".

He added: 'In an impressive field of candidates, Debbie stood out. Meanwhile, Richard Meddings will continue in his role as executive chairman, before returning to his previous position as non-executive chairman on Crosbie's arrival.

"With over two decades of experience, superb retail and SME [small and medium sized] banking expertise, and a genuinely open and engaging style of leadership, we have found an outstanding new CEO". Following the takeover, Sabadell attempted to migrate customer account information from Lloyds to its in-house platform, with the move ending in disaster with customers locked out of their accounts.

TSB online problems
Paul Pester left TSB in September following the IT meltdown

TSB has named Debbie Crosbie as the chief exec to clear up its tech mess and persuade customers they can still trust the meltdown bank.

It has suffered further IT issues since then, and was forced to apologise again in September after many customers were once more left unable to access their accounts. The problems continued for many weeks and TSB came under fierce criticism for the IT failings.

"Crosbie has spent over 20 years at CYBG and was instrumental in the development of the bank's new operating platform post-IPO - as well as the migration of two million customers across to it from CYBG's pre-existing archaic under-invested platform".

Crosbie, who is in her late 40s, will be paid a higher basic salary than predecessor Pester – who was on 913,500 pounds ($1.2 million) – and put on a "similar" bonus and incentive plan, Meddings said.