Letter To MPs Regarding Paul Pester’s Severance Payment

TBU sent the below letter to MPs this week. Please click this text to view a PDF copy of the letter. Recent Posts Goodbye To Catalonia Future Pension Increases – Letter To Members And MPs No ‘Money Confidence’ For Staff Pay & Bonuses 2021 Life Made A Little Bit...

Mr. Pester Trousers £1.7m; Grades D&E Staff Lose Overtime Pay

When you think it couldn’t get any worse, along comes HR, together with the approved Unions, to pour petrol on the flames. A few days before the TSB Board agreed to give Mr Pester a Willy Wonka golden ticket worth £1.7 million (£1.2 million basic salary plus a £468K...

What Price Failure?

You almost ruin TSB, shred its reputation, destroy the brand, cause an avalanche of customer complaints, lose £176 million+, put your staff through the shredder for months and you walk away with £1.7 million. That’s the price of failure in TSB. When asked about Mr....

No More Pester Power

In a recent TBU survey, 77% of members said that Paul Pester did not have the full support of staff. Today, ironically 24 hours after another IT meltdown, the Bank announced that Paul Pester, TSB’s Managing Director, will be leaving with immediate effect. Richard...

Are The TSB Severance Terms Contractual?

Before we answer the severance question, let’s talk about TSB’s day of reckoning. On the 27th, TSB and Sabadell will publish their Q2 2018 results. Notwithstanding the spin from Barcelona and Gresham Street, they are going to be a disaster. The question is how much of...

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