TSB appoints new CEO 

TSB has announced the appointment of Marc Armengol as Chief Executive Officer, subject to regulatory approval.

Armengol will succeed Robin Bulloch, who will retire after a 45-year career in retail banking, including five years at TSB.

Since becoming CEO of TSB three years ago, Bulloch has successfully transformed the customer experience, with TSB focused on being a purpose-led brand underpinned by strong colleague engagement. Under Bulloch’s leadership TSB has delivered record financial results in consecutive years.

Armengol is well known to TSB. He served as Strategy Director, and a member of the TSB Executive Committee, from 2018 to 2021, and has been a member of the TSB Board since 2022. He joined Sabadell in 2002 and has extensive international experience, including several years as COO in their international businesses.

Commenting on the appointment, TSB’s Chair, Nick Prettejohn said “We’re grateful to Robin for his outstanding contribution not only to TSB but also to retail banking for more than four decades. Robin leaves TSB a successful, simpler, stronger and more customer-focused bank and we’re well positioned for the next phase of growth.

“He hands over the baton to Marc who is a proven leader and knows TSB well. As an established TSB Board member, I’ve always admired Marc’s ambition for the future of TSB and its customers. Marc’s appointment will allow us to build further on the progress of recent years.”