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Nicky Morgan comments on TSB boss Paul Pester stepping down

4 September 2018

Following today's announcement that Paul Paul, Chief Executive of TSB, is stepping down, Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, said:

"Since the IT problems at TSB began, Paul Pester set the tone for TSB's complacent and misleading public communications. The Treasury Committee, therefore, concluded that it lost confidence in Dr Pester's position as Chief Executive of TSB.

In this light, it is right that he is stepping down.

But the Committee remains concerned about the continuing problems at TSB, including unacceptable delays in compensating customers who have been badly let down. It is to be hoped that Dr Pester's successor is able to restore the confidence of the bank's long-suffering customers."

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