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Robin Bulloch becomes TSB interim CEO

3rd December 2021


This morning it has been announced that Debbie Crosbie has been appointed as the next CEO of Nationwide Building Society.

Since becoming CEO in May 2019, Debbie and the TSB Executive have led the successful turnaround of TSB by delivering a strategy to transform customer experience, make the bank more competitive and increase colleague engagement. TSB is now purpose-led and fit for the future.

This year, as the business comes out of the biggest challenges of the pandemic, TSB has seen sustained commercial growth and new developments for customers, as well as improvements to the bank’s reputation and profile as a business and brand.

Robin Bulloch, Chief Customer Officer, has been appointed interim CEO, subject to regulatory approval, leading TSB with immediate effect and will work with Debbie on an orderly handover.

Robin has been at the heart of transforming the TSB customer experience and has driven the bank’s customer proposition and distribution strategies. Read Robin's profile.

Nick Prettejohn, TSB Chair: 

“We are grateful to Debbie for her outstanding contribution to TSB and wish her well for the future. She leaves TSB on a strong footing and I’m delighted that Robin Bulloch, who has significant retail banking experience at the highest level, has agreed to lead the business until such time as a permanent appointment is made."

Cesar Gonzalez-Bueno, CEO Sabadell: 

“We warmly thank Debbie for leading TSB back to growth. TSB is a valued part of the Sabadell Group and we look forward to working with Robin to achieve our shared goals."

Robin Bulloch, CEO: 

“It’s a huge honour to be asked to lead TSB.  It’s a wonderful business, with a talented, customer-focused team and it’s important we close out 2021 strongly and grasp the opportunities to do even more for our customers in 2022."


Notes to editors


(i)   TSB financial performance

  • At end Q3 2021, TSB reported a year-to-date statutory profit before tax of £110.2 million, compared to a loss of £152.4 million for the same period in 2020. The improvement reflects higher income, reduced costs and lower levels of credit impairment.
  • Net lending to customers increased by £1.0 billion (+2.7%) in the third quarter to £36.5 billion, a year-to-date increase of £3.2 billion (+9.5%). The main driver of this growth has been our success in attracting mortgage business.
  • Total 2021 new mortgage lending at the end of Q3 is already higher than the entire 2020 calendar year. TSB’s excellent service on mortgages has been recognised by What Mortgage with TSB receiving the awards for Best Fixed-Rate Provider and Best Direct Lender.
  • Total customer deposits increased by £0.2 billion (+0.5%) in the third quarter to £35.7 billion, a year-to-date increase of £1.3 billion (+3.9%). Deposit balances have continued to reflect the market-wide impact of the pandemic through an increase in household savings, although the deposit growth rate is now slowing as consumer spending recovers.

(ii)  How TSB is delivering for customers

  • We continue to protect our customers through our industry-leading Fraud Refund Guarantee (97% refund rate v 47% across banking industry). We’ve also launched new protections including a new process for blocking payments to cryptocurrency exchanges to tackle the high incidence of fraud in this area.
  • We have added new features and functionality to the mobile app, including adding the ApTap icon and reporting card fraud through TSB Smart Agent.
  • The changes we have made are really appreciated by customers: our net promoter score of 40.4 (NPS) for mobile, which measures how customers rate our service, is a significant improvement since the start of the year.
  • To provide even more support for mortgage customers, we recently introduced electronic certificate of title (ECOT) to deliver faster completion times and lower the risk of fraud.
  • Although we’re right sizing our overall network, we’re committed to a branch network (7th largest in the UK) and are investing in the best combination of digital and physical services, with 140 branches upgraded by the end of the year.

(iii) Being a responsible business: The TSB Do What Matters Plan

  • We are helping customers make informed choices. Every TSB branch now displays the independent Good Business Charter logo explaining how TSB is getting the basics of being a responsible business right, for example, paying taxes and paying small suppliers promptly (on average in around 7 days).
  • We provide a safe space for victims of domestic abuse in every branch, through our partnership with Hestia.
  • We have launched our first green lending product – additional borrowing at preferential rates to help mortgage customers reduce their homes’ carbon emissions – endorsed by the Green Finance Institute.
  • We continue to create a truly inclusive workplace by celebrating and encouraging diversity. Over 41% of senior roles at TSB are now held by women (v industry average of 32%).

Robin Bulloch Profile

Robin Bulloch joined TSB in 2019.

As Chief Customer Officer, Robin has been at the heart of transforming the TSB customer experience. He has driven the bank’s customer proposition and distribution strategies as well as developing the bank’s support for business customers. In 2020, he led the TSB brand relaunch.

Robin has broad industry expertise across consumer banking, business banking and insurance with a strong reputation for delivering business and cultural transformation in a banking career that spans over four decades.

Before joining TSB, Robin was Managing Director for Community Banking at Lloyds Bank and Bank of Scotland prior to which he led Lloyds Banking Group’s general insurance division. Prior to this he worked for RBS Group (now NatWest Group), holding senior roles including Managing Director at RBS and NatWest Branch Banking and Chief Executive of Tesco Personal Finance (now Tesco Bank).

Robin sits on the CBI Scotland Council. He is also a Fellow of the Chartered Banker Institute, having previously served on their Board and the Board of Scottish Financial Enterprise.

Robin lives in Glasgow and is married with two daughters.

Robin Bulloch