TSB appoints Marc Armengol as new CEO

(Sharecast News) - TSB said on Friday that it has appointed Marc Armengol as its new chief executive officer. Armengol will succeed Robin Bulloch, who will retire after a 45-year career in retail banking, including five years at TSB, which is owned by Banco Sabadell.

Armengol has served as strategy director at TSB and a member of the Executive Committee, from 2018 to 2021, and has been a member of the TSB board since 2022. He joined Sabadell in 2002 and TSB said he has "extensive" international experience, including several years as COO in their international businesses.

He is expected to rejoin the bank in early 2025 and will work with Bulloch on an orderly handover.

TSB chair Nick Prettejohn said: "We're grateful to Robin for his outstanding contribution not only to TSB but also to retail banking for more than four decades. Robin leaves TSB a successful, simpler, stronger and more customer-focused bank and we're well positioned for the next phase of growth.

"He hands over the baton to Marc who is a proven leader and knows TSB well. As an established TSB Board member, I've always admired Marc's ambition for the future of TSB and its customers. Marc's appointment will allow us to build further on the progress of recent years."