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Our People
Our Leadership Team is responsible for the day-to-day operation of TSB Banking Group plc and TSB Bank plc.
TSB Board
The Board is responsible for promoting the success of TSB Banking Group plc and TSB Bank plc by directing the companies' affairs.
The Board of Directors have diverse backgrounds and experience to help make us a better business.
Sergio Palavecino
Role: Non-Executive Director and Sabadell Chief Financial Officer
The Board of TSB Banking Group plc (the 'Board') as a whole is collectively responsible for promoting the success of the Company by directing the Company's affairs. Other than matters expressly reserved to the Board or the Board of TSB Bank plc (the 'Bank'), authority for day to day operation of the Company and Bank is delegated to the Chief Executive Officer. Certain decisions and executive action are reserved to the Chief Executive Officer. Other than matters expressly reserved to the Chief Executive Officer, authority can be delegated to the respective Functional Heads (Executive Committee members), jointly or severally.
Certain responsibilities of the Board and Bank Board are delegated to Committees of the Board to assist the Board and Bank Board in carrying out their functions and to ensure independent oversight of internal control and risk management. i.e. Remuneration, Nomination, Audit, Risk and Technology Strategy Committees.
The Audit Committee is made up of four members who are all Non-executive Directors and includes at least one member with recent and relevant financial experience. The Audit Committee is chaired by Judith Eden, who is an Independent Non-executive Director, and its other members are Libby Chambers, Morten Friis and Sergio Palavecino. The Audit Committee will normally meet at least four times a year at the appropriate times in the reporting and audit cycle.
The Audit Committee is responsible for assisting the Board in its oversight of: i) the integrity of TSB’s financial statements; ii) the qualifications, performance and independence of the external auditors; iii) the performance of the Internal Audit function; iv) internal controls; and v) compliance with legal and regulatory requirements pertaining to items i) through iv).
The Nomination Committee is made up of three members who are all Non-executive Directors. The Nomination Committee is chaired by Nick Prettejohn and its other members are Libby Chambers and Morten Friis. The Nomination Committee will normally meet at least twice a year.
The Nomination Committee is responsible for considering and making recommendations to the Board in respect of appointments to the Board, the Board Committees and the chairing of Board Committees. It is also responsible for keeping the structure, size and composition of the Board under regular review, and for making recommendations to the Board with regard to any changes necessary. The Nomination Committee also considers succession planning for the Board, taking into account the skills, knowledge, experience, diversity and leadership needs of TSB.
The Remuneration & People Committee is made up of four members who are all Independant Non-executive Directors. The Remuneration & People Committee is chaired by Libby Chambers and its other members are Adam Banks, Judith Eden and Morten Friis. The Remuneration & People Committee will normally meet at least four times a year.
The Remuneration & People Committee is responsible for formulating and monitoring the bank’s Remuneration Policy and approving remuneration arrangements for the Designated Group, to ensure orderly plans are in place for Executive succession (excluding the Executive Directors), and to consider the remuneration, performance and other relevant trends in relation to the bank’s wider employee base.
The Risk Committee is made up of four members who are all Non-executive Directors. The Risk Committee is chaired by Morten Friis, an independent Non-executive Director and its other members are Carlos Paz, Adam Banks and Judith Eden. The Risk Committee will normally meet at least four times a year.
The Risk Committee is responsible for assisting the Board in overseeing risk management at TSB, ensuring that management has in place policies, processes and procedures and has the appropriate organisational structure, budget and resources to manage the principal risks to which TSB is exposed, including compliance with applicable laws and regulations. The Risk Committee is also responsible for championing a transparent and responsible risk culture within TSB, ensuring an appropriate balance between risk and reward which acts to deliver good outcomes for customers, a safe and resilient financial profile and collaborative relationships with the Sabadell Group's and TSB’s regulators.
The Technology Strategy Committee is made up of four members who are all Independant Non-executive Directors. The Technology Strategy Committee is chaired by Adam Banks and its other members are Zahra Bahrololoumi, Libby Chambers and Ahmed Essam. The Technology Strategy Committee will normally meet at least four times per year.
The Technology Strategy Committee is responsible for providing guidance, challenge and advice to the Board on TSB’s vision and strategy for technology.
