Tuesday 4 September 2018 / 10:01 AM Economy / Jonathan Reynolds

Jonathan Reynolds responds to news that Paul Pester is stepping down as chief executive of TSB

Jonathan Reynolds MP, Labour’s Shadow Treasury Minister, responding to news that Paul Pester is stepping down as chief executive of TSB, amid disruption caused for millions of customers by the bank’s disastrous IT upgrade earlier this year, said:

“TSB customers have suffered inexcusable levels of disruption and received service which has fallen far short of accepted standards. It is right that the most senior person at the bank has been held accountable for this.

“A decade on from the financial crisis, senior individuals taking responsibility in this way will be an essential building block of restoring public trust in our banking sector.”