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which he took responsibility for. On stepping down, Pester took a substantial bonus. This was eventually found to be a ‘contractual severance pay agreement’ . Pester participated in subsequent investigations into the causes of the IT issues by the FCA, PRA and law firm
Slaughter & May. Ultimately the root causes of the issues were identified as a failure by Sabadell’s IT subsidiary. Pester was not found to have committed any wrongdoing by the FCA, PRA, and Slaughter & May.
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In May 2011, Pester was appointed as the CEO of
Project Verde and tasked with moulding a group of 632 bank branches Lloyds was being forced to divest by the European Commission as a penalty for receiving State Aid from the UK Government during the 2008 banking crisis, into a new bank. The new bank
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Pester was appointed in 2013 to launch TSB for the Lloyds
Banking Group and, in June 2014, listed the bank on the UK stock market. During this time, the BBC reported that he could earn more than £1.6 million that year in pay and bonuses. He stepped down after a significant IT failure at the bank,
71:(born 14 January 1964) is a British businessman and executive. He is currently the Chairman of Tandem Bank. Pester is also a non-executive Director and co-founder of FinTech accelerator, Archie. He was chief executive officer (CEO) of
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Pester lives in London with his second wife, having divorced in 2015 and remarried in 2017.He is also a competitive swimmer and triathlete, having represented Team GBR in the 2022 European
Aquathlon Championships in Bilbao.
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In
October 2015, Pester was appointed as an advisor to the Chancellor of the Exchequer and HM Treasury on competition issues in banking, sitting as a member of the High Level Treasury Advisory Group.
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In 2020, Pester was appointed chair of the Fairer
Finance Consumer Advisory Board. Pester co-founded Loop, a money-sharing social networking app, in 2021. He was appointed chairman of
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in 2022. Tandem acquired Loop in April 2023. He has also advised private equity groups including KKR, Centerbridge, and Pollen Street
Capital.
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236:"By Emma Haslett Monday, 28 April 2014 Clean living and twinkly-eyed: The new TSB CEO is determined to change the face of banking"
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115:. During Pester's tenure as CEO, Virgin Money Group launched in Australia. He then began working in various senior roles for
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465:"Treasury will meet challenger banks four times a year amid concerns sector is not a level playing field"
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484:"Former TSB CEO Pester joins fintech frenzy with launch of money-sharing social network Loop"
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597:"Results: 2022 Europe Triathlon Aquathlon Championships Bilbao - Bizkaia | 55-59 Male AG"
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337:"LLOYDS BANKING GROUP ANNOUNCES EXECUTIVE LEADERSHIP TEAM FOR ITS VERDE BUSINESS"
561:"Former TSB chief Paul Pester moves into fintech with social network for money"
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428:"Former TSB chief information officer fined £81,000 over IT meltdown in 2018"
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This article about a
British businessperson born in the 1960s is a
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Managing
Director of Consumer Banking & Payments at Lloyds TSB
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as a management consultant, before being appointed Group CEO of
509:"Challenger bank Tandem poaches finance chief from rival Atom"
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In 2023, Pester co-founded the
Fintech accelerator Archie.
384:"Integration guru Paul Pester to oversee Lloyds sell-off"
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British chief executives of financial services companies
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Managing Director of Consumer Banking at Lloyds TSB
319:"Lloyds prepares IPO option if branch auction flops"
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446:"Poor IT integration leads to M&A failures"
402:"TSB boss defends potential £1.6m pay package"
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825:British business biography, 1960s birth stubs
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234:Emma Haslett, Emma Haslett (28 April 2014).
366:"TSB's Paul Pester: Before the IT meltdown"
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536:"Tandem Bank buys money-sharing app Loop"
263:"TSB to boldly go back to local banking"
206:"TSB boss to step down after IT fiasco"
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795:Alumni of the University of Manchester
707:Group Chief Executive of Virgin Money
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790:Alumni of Brasenose College, Oxford
260:Armitage, Jim (10 September 2013).
659:Managing Director of Santander UK
482:Kleinman, Mark (5 December 2021).
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662:September 2008 - September 2010
629:September 2013 - September 2018
294:"Brazen Futures - Career Events"
274:from the original on 25 May 2022
680:September 2007 - February 2008
534:Duncan, Ellie (5 April 2023).
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695:August 2005 - September 2007
738:. You can help Knowledge by
810:British corporate directors
647:September 2010 - June 2011
579:"Archie Launches In London"
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131:was eventually named TSB.
16:British banker (born 1964)
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75:from 2013 to 2018.
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113:Virgin Money
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785:1964 births
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216:4 September
50:Businessman
39:Nationality
25:Paul Pester
779:Categories
676:Moneyfacts
161:References
117:Lloyds TSB
79:Early life
47:Occupation
469:Telegraph
450:Raconteur
121:Santander
99:in 1988.
565:Finextra
513:Sky News
488:Sky News
272:Archived
210:BBC News
85:Plymouth
73:TSB Bank
60:TSB Bank
412:11 June
349:11 June
323:Reuters
303:11 June
278:11 June
245:11 June
187:11 June
42:British
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519:5 June
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344:Lloyds
103:Career
583:AltFi
340:(PDF)
736:stub
547:2023
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