The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.
TSB welcomes new Board members as the Bank joins Santander
- TSB is announcing changes to its Board following the completion of Santander UK’s acquisition of TSB
- TSB welcomes David Oldfield as Chair, taking over from Nick Prettejohn
- Nicola Bannister, TSB CEO, Alison Straszewski, TSB CFO, and Mahesh Aditya, Santander UK CEO, will also sit on the TSB Board.
TSB has made changes to its Board following the completion of Santander UK’s acquisition of TSB, announced this morning (1 May 2026).
David Oldfield will join the Board as Chair, taking over from Nick Prettejohn. Nicola Bannister, TSB CEO, Alison Straszewski, TSB CFO, and Mahesh Aditya, Santander UK CEO, will also sit on the TSB Board, and be joined by new Non-Executive Directors Michelle Hinchliffe, Alison Webdale and José Doncel. Existing Independent Non-Executive Directors Morten Friis, Judith Eden and Libby Chambers will remain on the TSB Board.
David brings a diverse set of retail banking, commercial banking, operational and technology leadership experiences to TSB. David spent nearly 40 years with Lloyds Banking Group in a variety of leadership roles across Retail and Commercial Banking, Technology, Procurement, Strategy and integration delivery. Since December 2024, David has served as a Non-Executive Director on the Santander UK Board and also chairs the Board Risk Committees.
David Oldfield said: “I’m proud to be joining the TSB Board as we bring two great businesses together. I look forward to working with my fellow Board members and supporting the TSB leadership team in its next chapter with Santander”.
Nick Prettejohn said: “It’s been a privilege to serve as TSB Chair and I’m incredibly proud of the progress that TSB has made over recent years. I would like to thank TSB Board members for their efforts in ensuring the Bank has met the highest standards and performed at its best. I wish Nicola, and colleagues across the business, every success as they become part of Santander.”
With these changes, Marc Armengol, Carlos Paz, Sergio Palavecino, Adam Banks, Zahra Bahrololoumi and Ahmed Essam will step down from the TSB Board.
- ENDS -
Notes to editors:
The composition of the TSB Board will be as follows:
- David Oldfield – Chair (also Non-Executive Director and Chair of Santander UK Board Risk Committees)
- Morten Friis – Senior Independent Non-Executive Director and Board Risk Committee Chair
- Judith Eden – Non-Executive Director
- Libby Chambers – Non-Executive Director
- Nicola Bannister – Executive Director and TSB Chief Executive Officer
- Alison Straszewski – Executive Director and TSB Chief Financial Officer
- Mahesh Aditya – Non-Executive Director and Santander UK CEO (also Executive Director, Santander UK Board)
- Alison Webdale – Non-Executive Director and Santander UK Compliance Officer
- Michelle Hinchliffe – Non-Executive Director, Board Audit Committee Chair and TSB Whistleblowing Champion (also Non-Executive Director and Audit Committee Chair, Santander UK Board)
- José Doncel – Non-Executive Director (also Senior Advisor to the Santander Group Executive Chairman and CEO)
Biographies for the new TSB Board members are below, and for existing Independent Non-Executive Directors Morten Friis, Judith Eden and Libby Chambers on the TSB website here.
David Oldfield, OBE is an Independent Non-Executive Director of Santander UK Group Holdings plc and Santander UK plc, and Chair of the Board Risk Committees. David chaired multiple legal entities for Lloyds Banking Group both in the UK and internationally and, outside of the Group, was a Non-Executive Director for Motability Operations Group Plc, Chair of Cardnet Merchant Services Limited, and Chair of the Wellbeing leadership team for Business in The Community (BiTC). In the period 2014 to 2023, as a member of LBG's Group Executive Committee, David was CEO Retail Banking & Consumer Finance, CEO Commercial Banking and then most latterly Group Chief Operating Officer responsible for technology, data, strategic transformation, IT security and third party procurement and supplier management. Read more here.
Mahesh Aditya was appointed as Santander UK CEO on 1 March 2026. Mahesh joined Santander Group in 2017 as Chief Operating Officer of Santander Holdings USA, Inc and took the position of US Chief Risk Officer in 2018 until 2019 when he became Santander Consumer USA CEO, holding that position until 2023. He has been Santander's Group Chief Risk Officer from 2023 to February 2026. Mahesh has over 30 years' experience in financial services with a particular focus on international markets Risk Management. Read more here.
Michelle Hinchliffe is an Independent Non-Executive Director of Santander UK Group Holdings plc and Santander UK plc, and Chair of the Board Audit Committee. Michelle is also a Non-Executive Director of BHP Group Limited and Macquarie Group Limited. Michelle has over 35 years’ experience in financial services both in the UK and internationally, with a particular focus on Banking and Capital Markets. Until 2022, she was Lead Partner at KPMG with responsibilities for a range of financial institution clients, reporting under both IFRS and US GAAP. Over the course of her career, she has been Lead Partner for Barclays, ANZ, Standard Chartered Bank, HSBC Investment Banking & Markets and Citigroup UK. Read more here.
José Doncel is a member of the Board of Santander Spain and of the Board of Santander Chile. José also serves as Chairman of Banco de Albacete, S.A., Grupo Empresarial Santander, S.L., Ablasa Participaciones, S.L., and Finsantusa, S.L.U., and as a member of the Boards of Santander Holding Internacional, S.A., Santusa Holding, S.L., and Santander Global Technology and Operations, S.L. and Santander Group Properties, S. L. U. José also serves as a member of the Board of Directors of the Spanish Deposit Guarantee Fund (Fondo de Garantía de Depósitos) representing the Spanish Banking Association. Read more here.
Alison Webdale has 37 years of financial services experience, 30 of these have been with Santander. Alison has worked in a variety of Compliance and Control roles during this time including Retail Compliance, Head of Remediation programmes, and the Director of Conduct & Compliance. She has held various senior leadership roles and is a member of the Executive Committee of Santander UK. Alison has primary responsibility for leading the Compliance function encompassing, Economic Crime Risk, Advisory teams, Monitoring, Whistleblowing, Product Governance, SMCR and Accountability matters. Read more here.
Nicola Bannister is Chief Executive Officer of TSB and an Executive Director on the TSB Board. Nicola is an experienced Non-Executive Director, currently a member of the Council of the British School at Athens and previously serving on the Board of Avenues Group. Nicola has over 20 years of experience in Financial Services working across retail, insurance, investments and business banking. Nicola joined TSB in 2022, becoming a member of the TSB Executive Committee in 2024, and has held a number of leadership roles covering economic crime, customer and financial support, and key enterprise-wide services including planning, performance and assurance for TSB. Read more here.
Alison Straszewski was appointed TSB Chief Financial Officer in September 2025 and is an Executive Director on the TSB Board. Alison is also a Non-Executive Director on the Council of the National Institute of Economic and Social Research and an advisor to Charities Aid Foundation Bank. Alison joined TSB in 2012 and became Treasurer in 2018. Alison joined TSB with a wealth of UK and international Finance experience from roles at Lloyds Banking Group, Rabobank, and Deutsche Bank. Read more here.
