TSB appoints new boss following IT meltdown

In April, around two million customers lost access to their online banking services after a botched introduction of a new computer system.

The problems left customers unable to access their accounts or make payments, while others were shown incorrect information, and in some cases the details of other people’s accounts.

The issues stemmed from when TSB split from Lloyds Banking Group. It continued to rent a banking platform from Lloyds while it constructed its own, Proteo4UK.

That system was intended to go live over the weekend of April 21 and 22 as it moved its customers’ data from the old platform to its new one.

The problems persisted for months, and in September Pester stepped down over the issues.

In July, the bank revealed the IT issues had cost it £176.4m, pushing it into a loss of £107.4m in the six months to June 30.

Crosbie joins TSB from CYBG, where she has worked for more than twenty years.

She will join the bank in 2019, with a confirmed start date to be “announced in due course”, TSB said. Meanwhile, Richard Meddings will continue in his role as executive chairman, before returning to his previous position as non-executive chairman on her arrival at TSB.

Meddings said: “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 CEO for the next chapter of TSB.”

Crosbie 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.”