11 July 2014

TSB Bank plc appoints Jatin Patel as Product Director

TSB Bank plc is delighted to announce the appointment of Jatin Patel as its Product Director. Jatin has been leading the Products team since the end of last year on an interim basis, having joined TSB at the beginning of 2013 as Personal Banking and Borrowing Director.

Commenting on the appointment, Paul Pester, Chief Executive Officer at TSB Bank plc, said: "Following an extensive search, I was delighted that our internal candidate came out strongest. Jatin has a great track record and really understands what customers want. During his time as interim Products Director he has proved to be a strong leader and a valued member of TSB's Executive Leadership team.

"I look forward to continuing to work closely with Jatin as we bring our strategy of delivering local banking for Britain to life whilst growing our market share."

Speaking about his appointment, Jatin Patel, Product Director at TSB Bank plc, said: "It's an incredibly exciting time to be at TSB and I am really proud of what we've achieved since we launched last September. I came to TSB to be at the heart of creating a new challenger bank and I'm delighted to be given this opportunity to lead the Product Team on a permanent basis to bring better banking to Britain.

"Whether it's enhancing our existing product range or launching new products I'm absolutely committed to making sure that TSB offers customers in the UK the kind of bank they really want - a bank that offers great products and a straightforward and simple approach to banking."

Jatin was instrumental in developing and launching TSB's first new product, the Plus bank account earlier this year which has been designed to be the most rewarding and accessible account available with customers earning 5% on balances up to £2,000*. As Products Director, Jatin will play an important role in delivering TSB's growth strategy which focuses on three core strands: growing bank account market share; growing mortgage market share through the delivery of a new broker channel; and thirdly, deploying the Bank's already considerable digital banking capabilities so customers can interact with TSB how they want to, helping them manage their money in a way that suits them. This in turn will help TSB strengthen existing relationships and attract new customers.


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Notes to editors

Biography of Jatin Patel

Jatin joined TSB at the beginning of 2013 as Current Accounts Director and has been acting Product Director since the end of last year. Prior to joining TSB he was the Current Accounts Director at Lloyds TSB, and before that he held a number of roles in the Lloyds TSB Current Account business gaining broad experience of leading strategy, product management and product development. Jatin also has experience of working in Group Strategy and Corporate Development and worked for a number of years in strategy consulting.

Jatin was born and brought up in London, and graduated from Cambridge University in 2000 with a Masters in Manufacturing Engineering. He is married with three young children: a four year old daughter and three year-old twins.

* TSB Classic Plus account gives 5% AER/4.89% gross variable interest on balances up to £2,000.