It was today announced in a press release that Debbie Crosbie, currently group chief operating officer at Clydesdale and Yorkshire Bank (CYBG), will join the TSB board as CEO in 2019 (date to be confirmed).
Crosbie came to CYBG in 1997, holding roles within the IT and development field before being appointed chief information officer in 2008. Chief among Crosbie's responsibilities was unifying the different infrastructure and operating systems for CYBG, according to her profile on the bank's website.
Crosbie briefly served as acting CEO of CYBG in 2015.
She joins TSB after a difficult year for the bank. In April 2018, TSB left 1.9m customers unable to access accounts due to an inadequately tested IT migration.
In August, the Competition & Market Authority (CMA) released its customer satisfaction rankings - the first of its type - with TSB coming joint nine of 16 at 60% (1st - First Direct, 85% and 16th, RBS, 49%).
On September 3, it was reported that TSB's online and mobile banking services were disrupted for thousands of customers. Crosbie's predecessor, Paul Pester subsequently stepped down from the post of CEO.
“When we began the search for a new CEO, we were looking for someone who shared our vision for TSB, who had a strong track record in financial services, and who would inspire TSB Partners to fulfil TSB’s true potential," commented current executive chairman at TSB, Richard Medding. Medding will return to his previous position as non-executive chairman upon Crosbie's arrival.
“In an impressive field of candidates, Debbie [Crosbie] 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 CEO," said Medding.
It also suggests that TSB is seeking a fresh start for the brand, with Crosbie's previous experience key.
"Debbie brings a clear challenger mindset to TSB and she shares our vision for what a strong challenger bank can achieve for customers. I’m confident that Debbie will have great chemistry with the TSB Executive Team and together they will drive our ambition to become the leading challenger bank in the industry.
Likewise, Crosbie is equally keen to get the bank back on track with the IT crises firmly in the rear view mirror.
“I’ve known and admired TSB for many years and I have huge respect for the values on which TSB has been built. A lot of banks talk about creating the right culture, but TSB has it. The passion and commitment of TSB Partners to deliver for customers is second to none.
“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.
“I’ve heard so much about the team at TSB and I can’t wait to get to know everyone. Together, our goal is to ensure TSB becomes the champion for consumers in our industry,” said Crosbie.
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