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TSB boss Paul Pester to step down after IT fiasco

TSB boss Paul Pester to step down after IT fiasco

Business
TSB chief Paul Pester is to step down after seven years in charge, in the wake of a major IT failure at the bank.In April this year, customers were left without access to online banking services for several weeks when an attempt to move data to a new computer system went wrong.The bank is still struggling to get its IT systems to work properly.On Monday, it apologised to customers who faced disruption to their online and mobile banking over the weekend.Following Mr Pester's departure, TSB chairman Richard Meddings will take on the role of executive chairman until a new chief executive is appointed.Mr Meddings said: "Although there is more to do to achieve full stability for customers, the bank's IT systems and services are much improved since the IT migra...
MPs have 'lost confidence' in TSB boss Pester

MPs have 'lost confidence' in TSB boss Pester

Business
Beleaguered TSB chief executive Paul Pester found himself under further pressure to keep his job after MPs said they had "lost confidence" in his ability to lead the troubled bank. In a letter to TSB chairman Richard Meddings, dated June 7 and signed by Treasury select committee chair Nicky Morgan, MPs said: "...the committee considers that the TSB Board should give serious consideration as to whether Dr Pester's position as chief executive of TSB is sustainable."The committee has lost confidence in his ability to provide a full and frank assessment of the problems at TSB, and to deal with them in the best interests of its customers."It is concerned that, if he continues in his position, this could damage trust not only in TSB, but in the retail banking sector as a whole. I...