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Marc Armengol appointed TSB’s Chief Executive Officer; Robin Bulloch announces his retirement
The TSB Board has today announced the appointment of Marc Armengol as Chief Executive Officer of TSB, subject to regulatory approval.
Marc will succeed Robin Bulloch, who will retire after a 45-year career in retail banking, including five years at TSB.
Since becoming CEO TSB three years ago, Robin has successfully transformed the customer experience, with TSB focused on being a purpose-led brand underpinned by strong colleague engagement. Under Robin’s leadership TSB has delivered record financial results in consecutive years.
Marc is well known to TSB. He served as Strategy Director, and a member of the TSB Executive Committee, from 2018 to 2021, and has been a member of the TSB Board since 2022. He joined Sabadell in 2002 and has extensive international experience, including several years as COO in their international businesses.
Marc is expected to rejoin TSB in early 2025 and will work with Robin on an orderly handover.
Commenting on the appointment, TSB’s Chair, Nick Prettejohn said: “We’re grateful to Robin for his outstanding contribution not only to TSB but also to retail banking for more than four decades. Robin leaves TSB a successful, simpler, stronger and more customer-focused bank and we’re well positioned for the next phase of growth.
“He hands over the baton to Marc who is a proven leader and knows TSB well. As an established TSB Board member, I’ve always admired Marc’s ambition for the future of TSB and its customers. Marc’s appointment will allow us to build further on the progress of recent years.”
Robin Bulloch said: “I have been very fortunate to work in retail banking for virtually my whole career with a focus on doing what’s right for our customers. The fact that my executive career concludes with me at the helm of TSB, where I opened my first bank account aged five, gives me a personal sense of fulfilment. However, more importantly, I want to thank all of my colleagues at TSB for their dedication and their unstinting efforts every day to make TSB a better bank.”
Marc Armengol said: “I’m delighted to be rejoining TSB – a leading challenger bank and trusted brand that is delivering Money Confidence for millions of customers every day. I’m looking forward to building on the great work and passion and commitment of TSB colleagues to continue to unleash TSB’s potential and deliver even more for customers.”
Marc is currently Chief Operations Officer for Banco Sabadell, a role he has held since March 2021. He has also been on the TSB Board since March 2022 as Non-Executive Director.
Prior to this, Marc was Corporate Strategy Director at TSB for three years where he lived in London with his family. Marc has over 20 years’ experience in financial services leading multi-national transformation programmes. He joined Sabadell in 2002, where he spearheaded the transformation of the bank’s operating model, leading large-scale 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 an American financial entity.
