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...
IT Meltdown – Your Rights
In a recent letter to the Chairman of the Treasury Select Committee, Richard Meddings, Chairman of TSB, said that “TSB is at, or functioning, close to normal for the majority of TSB customers” Mr Meddings needs to get out more and see what’s actually going on in...
GMP Court Case – Press Release
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What’s Going On In TSB?
You couldn’t make this stuff up if you tried. For the past few months staff in TSB have been on their knees doing everything they possibly can to save the Bank. Staff have been working round the clock to ensure that customers are looked after and that’s despite the...
History In The Making?
In 1990 Nelson Mandela was released from prison after 27 years of incarceration and later that year the Berlin Wall was torn down. Two historic moments that reverberated around the world. In the staid world of pensions something just as dramatic happened: the European...
£1bn Meltdown
The figures are truly staggering. If you include the £450 million Lloyds gave Sabadell to help cover the cost of transferring customers from the LBG system to Proteo4UK, the final cost of the biggest IT meltdown ever is likely to exceed £1 billion according to press...
FCA To Investigate TSB’s IT Meltdown
When you thought it couldn’t get any worse, Andrew Bailey, the Chief Executive of the Financial Conduct Authority, in an unusually strong letter, says that when giving evidence to the Treasury Committee in May, Paul Pester, Managing Director of TSB, was “portraying an...
TSB’s Doom Loop
We are now into week 6 and the misery continues for TSB staff and customers with no end date in sight. The IT meltdown has gone on for so long that Paul Pester, TSB Managing Director, has been called back to give evidence in front of the Treasury Select Committee just...
“We are literally on our knees………….”
We have heard stories of fighting between staff frustrated at what they can’t do, staff bursting into tears in front of customers because they are absolutely knackered and line managers going into empty rooms to vent their anger at walls that can’t answer back....
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