British TSB, A subsidiary of Banco SabadellThis Wednesday announced that Richard Middings He plans to leave the entity’s presidency this year, now after the group he heads Josep Olio He was left in the air of his potential sale. Sources from Valisan Bank of origin confirm that selling the TSB is not now on the “short-term” agenda.
Meddings, who took office in February 2018, will continue to serve on the board of directors, of which it has been a member since September 2017, until a successor is appointed. TSB has made it clear in a statement that the president last year expressed his intention not to renew his mandate, but decided to remain in office during the failed merger negotiations between Sabadell and BBVA.
Despite the technological losses and problems brought about by the Telecommunication Standardization Bureau Since its acquisition in 2015In recent months, the Spanish entity has responded to the possibility of liquidating its subsidiary company in the United Kingdom. Oleo, who will be leaving his executive position at Sabadell’s shareholders meeting on Friday, thanked Meddings for his “exceptional leadership.”
“By attracting the right leaders, developing and implementing a growth strategy and focusing on improving customer service, Richard has made sure TSB is well prepared for the future of success,” Oliu said.
By announcing his departure, Meddings confirmed his confidence in the bank’s “highly effective” CEO, Debbie Crosby Endorsed by the new CEO of Sabadell, Cesar Gonzalez Bueno; And the rest of the management team.
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He emphasized that TSB “directly controlled its technological systems,” which he considered “an essential step” in the company’s plans to “return to profits” and provide good service to its five million customers.
Meddings took over the reins of the UK entity after the problems caused by the move to a new computing platform in 2018, which left many customers temporarily without access to their accounts