Page 267 - Bank Case Studies
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The government looked to challenger banks to drive greater
competition in Britain’s business banking marketplace. This
was predicated on the Royal Bank of Scotland’s £835m
Incentivised Switching Scheme of grants given to 15
challenger banks to promote their offering to small business
owners.
TSB
Pester was
appointed as
an Executive
Director of TSB
on 31st January
2014. He had
been
appointed to
lead the Verde
Programme for Lloyds Banking Group (‘LBG’) in May 2011
where he undertook the task of designing, building and
launching TSB Bank and overseeing its separation from LBG.
Pester had spent six years as the First Group CEO of Virgin
Money, worked at Santander and LBG. Having graduated with
a doctorate in theoretical physics from the University of
Oxford, he spent the early part of his career in management
consulting, principally at McKinsey & Company. (3)
Commenting on TSB and its way forward Pester, said the
bank was “absolutely on track” What he and TSB was not
about was:
