Page 287 - Bank Case Studies

Furthermore,

more than
1,300

customers

lost money

from their
accounts, as a

result of

targeted fraud

attacks.

During the
height of the

system failure, Pester told Sky News that he had had "robust
conversations" with Sabadell about the way it had

responded to the crisis. (24)

Multimillion-pound bonuses to Pester and 30 other senior

TSB staff are dependent on the IT migration. TSB’s

remuneration committee has yet to decide whether to pay

Paul Pester his £1.6m bonus. However, TSB came under

fierce criticism for the IT failings, and MPs on the Treasury

Committee called on Mr Pester to resign. (25, 27) In addition

the Committee published the preliminary IBM report on TSB

which said that TSB had not carried out enough tests and

could have done more to limit risks ahead of its IT update,

this was presented to TSB just days before Pester publicly

insisted its planning policies had been sufficient. (26)