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TSB boss to give up bonus amid IT fiasco

2nd May 18 4:47 pm

Here’s why

The Chief Executive of TSB, Paul Pester, will not receive a bonus that he was due and which was linked to the bank’s botched computer system migration, TSB’s chairman Richard Meddings has told lawmakers today.

Pester, who’s run the bank since 2013, aso said he takes “absolute responsibility” for “unacceptable” customer service, in testimony before the Treasury Select Committee today.

“If there is one decision in my life that I could change it was the decision to go ahead with the migration. Clearly that was a terrible decision for our bank, for our customers and for me personally,” Pester further told MPs.

A systems migration at TSB over the weekend of April 21-22 left up to 1.9m customers unable to access their accounts.

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