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Go Pester someone else: TSB ditches CEO over bank's IT meltdown.
Paul Pester has been booted out of TSB's top office after months of criticism over his handling of the IT chaos that hit the bank this year – but is still expected to take away about £1.7m.
The CEO's departure follows another systems meltdown over the weekend, when a planned four-hour downtime ended up leaving some customers unable to access mobile, online or telephone services for almost two days.
However, non-executive chairman Richard Meddings, who is taking on the role of executive chairman to lead the hunt for the new boss, claimed the bank's IT systems were stable enough that this was the right time for Pester to leave.
Related: Watchdog Slams TSB Boss for Underplaying Extent of IT Meltdown
(Score: 3, Insightful) by aristarchus on Wednesday September 05 2018, @08:30AM (11 children)
I give up! What is a "TSB"? I gather it is some kind of bank. What country? What currency? Is this another one of those Bitcoin submissions?
(Score: 0) by Anonymous Coward on Wednesday September 05 2018, @09:11AM (2 children)
TSB is apparently some bank in UK. Their meltdown probably is a prequel to the meltdown of entire UK (or at least The City) as they bumble their way through Brexit.
(Score: 0) by Anonymous Coward on Wednesday September 05 2018, @04:24PM
TSB's problem long precede Brexit. It's their shit software from that banking operation in Spain that sealed their fate.
BTW, TSB now officially stands for "This Sucks Balls".
(Score: 2) by driverless on Wednesday September 05 2018, @07:54PM
It's the Taranaki Savings Bank [tsb.co.nz]. Didn't know they had branches in the UK though.
(Score: 1, Informative) by Anonymous Coward on Wednesday September 05 2018, @09:31AM (5 children)
It's a UK retail bank, spun out of Lloyds TSB (the former is now Lloyds bank) to satisfy their bail-out terms.
(Score: 3, Interesting) by FatPhil on Wednesday September 05 2018, @10:57AM (4 children)
Every UK bank is useless to the core. Those in charge need to spend the rest of their miserable lives locked up in stocks rather than investing in them, sacking's too good for them..
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 0) by Anonymous Coward on Wednesday September 05 2018, @07:06PM (2 children)
ok so what's tsb? i thought it was our buzzard guy at first but then realized the letters were wrong.
if I read only the comments that are displayed to me, no one has said what TSB is. you'd think someone would upmod the guy with the answer but that's not what we are getting.
(Score: 0) by Anonymous Coward on Wednesday September 05 2018, @08:22PM (1 child)
Hell, I read it as Transportation Safety Board [ntsb.gov] but then quickly realized that makes no goddamned sense.
Comment below mentioning Trustee Savings Bank looks probably correct and is already upmodded.
(Score: 2) by FatPhil on Friday September 07 2018, @12:36PM
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 0) by Anonymous Coward on Thursday September 06 2018, @08:20AM
The shitty Spanish is Sabadell (https://en.wikipedia.org/wiki/Banco_Sabadell), and yeah, it's the transition to that bank's IT infrastructure that caused the tits-up.
(Score: 3, Informative) by turgid on Wednesday September 05 2018, @09:43AM
Trustees Savings Bank, a mutual.
I refuse to engage in a battle of wits with an unarmed opponent [wikipedia.org].
(Score: 2) by epitaxial on Wednesday September 05 2018, @06:57PM
I was thinking Technical Service Bulletin.