British TSB, A subsidiary of Banco SabadellThis Wednesday announced that Richard Middings He plans to leave the presidency of the entity this year, after becoming the group he heads Josep Olio He had left in the air his potential sale. Sources from the Origin Bank of Valleisan confirm that selling the TSB is not now on the “short term” agenda.
Meddings, who took office in February 2018, will continue to serve on the board of directors, of which it has been a member since September 2017, until a successor is appointed. The Telecommunication Standardization Bureau mentioned in detail in a statement that the President last year expressed his intention not to renew his mandate, but decided to remain in office during the failed merger negotiations between Sabadell and BBVA.
Despite the technological losses and problems brought about by the Telecommunication Standardization Bureau Since its acquisition in 2015In recent months, the Spanish entity has responded to the possibility of liquidating its subsidiary company in the United Kingdom. Oleo, who will be leaving his executive position at Sabadell’s shareholders meeting on Friday, thanked Meddings for his “exceptional leadership”.
“By attracting the right leaders, developing and implementing a growth strategy and focusing on improving customer service, Richard has made sure TSB is well prepared for the future of success,” Oliu said.
In announcing his departure, Meddings affirmed his confidence in the bank’s “highly effective” CEO, Debbie Crosby Endorsed by the new CEO of Sabadell, Cesar Gonzalez Bueno; And the rest of the management team.
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He emphasized that TSB “directly controlled its technological systems,” which he considered “an essential step” in the company’s plans to “return to profits” and provide good service to its five million customers.
Meddings took over the reins of the British entity after the problems that resulted from the move to a new computing platform in 2018, which left many customers temporarily without access to their accounts.
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