TSB BOSS and whipping boy for the company’s spectacular IT incompetence is to step down to spend more time with his money.
Paul Pester had been on borrowed time since the company’s migration away from former parent Lloyds Bank’s IT systems went to planet borksville leaving thousands of customers unable to see their accounts, but in some cases, able to see other peoples’.
When a further IT meltdown caused online and mobile banking services to break down again, the writing was on the wall.
Although the overall situation has improved, there are still glitches affecting many customers, whilst others have voted with their feet. Around 26,000 of them to be precise.
So far, the debacle has cost Spanish owner Sabadell £176.4m, according to the BBC.
But despite repeated calls to resign, including from the Commons Select Committee investigating the issue, Pester clung on. Ministers had found his attitude towards the committee suggested it was not taking in the wake of the 1.9m customers he was responsible for.
IBM, who Pester and his team brought in to try and undo some of the damage had said that the Sabadell Proteo platform, which had been declared ready when offered to TSB, had not been tested sufficiently.
Pester’s defendants argue that he was a victim of incompetence from above – after all – the Sabadell name hasn’t exactly come into the reporting of this issue much. But ultimately, Pester was in charge of TSB and it was rolled out on his watch.
“Since the IT problems at TSB began, Paul Pester set the tone for TSB’s complacent and misleading public communications,” said Nicky Morgan, chair of the Treasury Committee in her usual grating tone.
TSB’s Chairman Richard Meddings will become Executive Chairman whilst the bank recruits a successor, who will be left with the unenviable task of finding a way to undo the damage to the bank’s computer systems and reputation. μ
Source : Inquirer