06 January 2020

Update on TSB’s Executive Committee

TSB today announced that Iain Laing, TSB’s Chief Risk Officer, has decided to step down from the business.

TSB’s Chief Executive Officer, Debbie Crosbie said: “Since joining TSB in January 2017, Iain has been a key member of the leadership team that steered the Bank through migration and contributed to recovering the Bank’s reputation. He has been a strong customer advocate within the business and has endeavoured to ensure that the Bank always balanced its commercial interests with the need to treat customers fairly. We are grateful for Iain’s contribution and wish him every success in the future.”

TSB’s Chief Audit Officer, Carlos Paz, is appointed Chief Risk Officer, subject to regulatory approval. Carlos joined TSB from Sabadell in March 2016. Prior to this Carlos was Chief Risk Control Officer at Sabadell for three years, having joined from Catalunya Bank where he served as Chief Financial Officer.

Debbie said: “Carlos is a proven risk specialist and a valued member of TSB’s executive team, leading the audit function at TSB for nearly four years where he has led important work to enhance our control environment. Carlos’ track record in senior leadership and, specifically, embedding a strong risk culture across the banks he has worked in, makes him the perfect fit for this role.”

Iain Laing will leave TSB at the end of January. The Chief Audit Officer role will be filled on an interim basis by the Bank’s current Director of Audit (Risk), Richard Waspe.

About Carlos Paz

Carlos joined TSB from Sabadell in March 2016 as Chief Audit Officer. He joined Sabadell in 2013 where as Chief Risk Control Officer he led the design, development and oversight of the Group’s risk appetite framework.

Before Carlos joined Sabadell, he was the Chief Financial Officer of Catalunya Bank for three years, where, during the global financial crisis, he was appointed to work closely with the Spanish regulator and the European Commission to develop and implement the resolution plan for the bank.

Carlos has a Master in Business Administration from ESADE (Barcelona) and Stern School of Business (Finance specialisation - New York), and a degree in Economics and Business Administration from Universitat Pompeu Fabra (UPF), Barcelona.

Media Contacts

For further information, please contact:

Supreet Thomas, Head of Communications

07519 502 123 | supreet.thomas@tsb.co.uk

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