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Bloomberg
Three senior executives at Banco de Sabadell SA’s British unit will step down in an overhaul that the bank said is unrelated to the meltdown of its IT system earlier this year.
The UK arm, known as TSB Banking Group, will see Treasurer Ian Firth, Chief Marketing Officer Nigel Gilbert and Human Resources Director Rachel Lock retire in the coming months. Firth and Gilbert will be succeeded by internal appointments, according to a TSB statement. No replacement has yet been found for Lock, who will leave after six years at the lender.
The retirements are unconnected to the problems TSB encountered in the migration of new computer systems earlier this year, a bank spokesman said. The meltdown left thousands of
customers unable to access services at TSB, which was acquired by Sabadell in 2015.
The Spanish bank was hit by a $235 million charge related to the business in the second quarter.