Paul Pester

From Wikipedia, the free encyclopedia

Paul David Pester (born 14 January 1964) is a British banker. He was chief executive officer (CEO) of TSB Bank from 2013 to 2018.[1][2]

Early life[]

Pester grew up in Plymouth.[3] He was educated at , Plymouth.[4] He has a first class honours degree in physics from the University of Manchester, and a doctorate (DPhil) in mathematical physics from Brasenose College, University of Oxford in 1988.[1][5]

Career[]

Pester was employed by McKinsey & Co as a management consultant, before running Virgin Money, and then working in various senior roles for Lloyds TSB, Santander and Lloyds Banking Group.[6]

TSB[]

Pester was appointed in 2013 to launch TSB for the Lloyds Banking Group and, in June 2014, the BBC reported that he could earn more than £1.6 million that year in pay and bonuses.[7] He stepped down after a disastrous IT failure at the bank, which he claimed ultimate responsibility for. On stepping down, Pester took a substantial bonus - which raised eyebrows among TSB's customers, staff and regulators, this was eventually found to be a ‘contractual severance pay agreement’ .[2]

Personal life[]

Pester lives in London with his second wife. He divorced in 2015 and remarried in 2017.[3]

References[]

  1. ^ a b "Paul Pester". Businessweek. Retrieved 11 June 2014.
  2. ^ a b "TSB boss to step down after IT fiasco". BBC News. 2018-09-04. Retrieved 2018-09-04.
  3. ^ a b Emma Haslett, Emma Haslett (28 April 2014). "By Emma Haslett Monday, 28 April 2014 Clean living and twinkly-eyed: The new TSB CEO is determined to change the face of banking". Management Today. Retrieved 11 June 2014.
  4. ^ Armitage, Jim (10 September 2013). "TSB to boldly go back to local banking". The Independent. Retrieved 11 June 2014.
  5. ^ "Brazen Futures - Career Events". Brasenose College. Retrieved 11 June 2014.
  6. ^ "LLOYDS BANKING GROUP ANNOUNCES EXECUTIVE LEADERSHIP TEAM FOR ITS VERDE BUSINESS" (PDF). Lloyds. Retrieved 11 June 2014.
  7. ^ "TSB boss defends potential £1.6m pay package". BBC. 5 June 2014. Retrieved 11 June 2014.
Business positions
Preceded by
New company
 Chief Executive of TSB
September 2013 - September 2018 		Succeeded by
Richard Meddings
Preceded by
 Managing Director of Consumer Banking & Payments at Lloyds TSB
September 2010 - June 2011 		Succeeded by
Preceded by
 Managing Director of Santander UK
September 2008 - September 2010 		Succeeded by
Preceded by
 Chief Executive of Moneyfacts
September 2007 - February 2008 		Succeeded by
Preceded by
 Managing Director of Consumer Banking at Lloyds TSB
August 2005 - September 2007 		Succeeded by
Preceded by
 Group Chief Executive of Virgin Money
March 1999 - July 2005 		Succeeded by


Stub icon

This article about a British businessperson born in the 1960s is a stub. You can help Wikipedia by .

  • v
  • t
Retrieved from ""