21 March 2022

TSB announces changes to Board

TSB is pleased to announce the appointments of Leopoldo Alvear, Carlos Paz and Marc Armengol to the TSB Board as Non-Executive Directors effective from 22 March 2022.

Leopoldo, Carlos and Marc will replace David Vegara, Alicia Reyes and Tomás Varela, who will be stepping down as Non-Executive Directors on TSB’s Board.

The three appointees each have a strong pedigree in financial services and bring with them a wealth of banking experience, as well as good understanding of the TSB business:

  • Leopoldo Alvear is General Manager and Chief Financial Officer for Banco Sabadell. Prior to this, he spent eleven years at Bankia, where he also held the position of Chief Financial Officer and Deputy General Manager. He started his career at PWC and later spent five years as Head of Equity Capital Markets for Caja Madrid.
  • Marc Armengol is currently Chief Operating Officer for Banco Sabadell, a role he has held for the past year. Previously, Marc was the Corporate Strategy Director for TSB in London. Between 2002 and 2014, he held several positions at Banco Sabadell including Head of Online Banking and Head of Transformation. He started his career at Deutsche Bank.
  • Carlos Paz has been appointed to Chief Credit Risk Officer, Sabadell Group. He has been Chief Risk Officer at TSB Bank, having joined as Chief Audit Officer in 2016. Prior to joining TSB, he was Chief Risk Control Officer for Banco Sabadell Group and started his career at Caixa Catalunya, where he eventually served as Chief Financial Officer.

TSB’s Chair, Nick Prettejohn, said: “I’d like to extend a warm welcome to Carlos, Leopoldo and Marc to TSB’s Board. Together they will help us build an even better, stronger bank.

“David, Alicia and Tomás have played crucial roles in helping transform TSB in recent years and, on behalf of the business and Board, I thank them for their service, commitment and contribution to TSB.”

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. ‚Äč

Media Contacts

Supreet Thomas, Head of Communications | 07519 502 123 | supreet.thomas@tsb.co.uk

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Notes to editors

Leopoldo Alvear

Leopoldo Alvear has over 20 years' experience in financial services and is General Manager and Chief Financial Officer for Banco Sabadell. Prior to this, he spent eleven years at Bankia, where he also held the position of Chief Financial Officer and Deputy General Manager. He started his career at PWC and later spent five years as Head of Equity Capital Markets for Caja Madrid.

Mark Armengol

Marc Armengol is currently Chief Operating Officer for Banco Sabadell, a role he has held for the past year. Prior to this, Marc was Corporate Strategy Director at TSB for three years. He has broad experience of leading large, multi-national transformational projects. He joined Sabadell in 2002, where as Head of Organisation, he spearheaded the transformation of the operating model, leading projects across the bank, and co-ordinating the integration of multiple acquisitions in Spain. He was also Chief Operating Officer for Sabadell (Americas) and led Corporate Strategy for Iberia Bank which acquired Sabadell’s business in the Americas in 2017.

Carlos Paz

Carlos Paz has been appointed Chief Credit Risk Officer, Banco Sabadell Group. Most recently he has been Chief Risk Officer at TSB Bank, having joined as Chief Audit Officer in 2016. Prior to joining TSB, he was Chief Risk Control Officer for Banco Sabadell Group where he led the design, development and oversight of the Group’s risk appetite framework. He started his career at Caixa Catalunya, where he eventually served as Chief Financial Officer and, during the global financial crisis, was appointed to work closely with the Spanish regulator and the European Commission to develop and implement the resolution plan for the bank.