TSB appoints Morten Friis as Independent Non-Executive Director

TSB has today announced the appointment of Morten Friis to the Board as an Independent Non-Executive Director and, subject to regulatory approval, Senior Independent Director, as Lynne Peacock, steps down after serving four years on the TSB Board.

Morten will join the TSB Board on 1 April 2024.

Morten brings strong risk management and board governance expertise, most recently having served on the boards of NatWest and Jackson National Life Insurance (previously part of Prudential). In his executive career, he spent over 30 years in financial services across retail and wholesale banking. The majority of his career was spent with Royal Bank of Canada, serving as a Senior Vice-President and Chief Risk Officer, and was also a director of RBC Life Insurance Company.

TSB’s Chair, Nick Prettejohn said:

“I’d like to thank Lynne for her outstanding contribution to the TSB Board over the past four years – we wish her all the best for the future.

“We are delighted to welcome Morten to the TSB Board. He brings a wealth of experience that will not only enhance the Board, but also provides valuable expertise as the bank continues to deliver more for its customers.”

Morten Friis said:

“I’m looking forward to joining the Board to support the delivery of TSB’s strategy and its Money Confidence purpose to its customers.”

Morten Friis Biography

Morten Friis has strong risk management and board governance expertise with over 10 years’ experience in Board roles, most recently at NatWest where he also chaired the group risk committee and as a Non-Executive Director at Jackson National Life Insurance Company.

Prior to this Morten spent over 34 years in financial services. He held various roles at Royal Bank of Canada and its subsidiaries, including Associate Director at Orion Royal Bank; Vice President, Business Banking; and Vice President, Financial Institutions. In 1997, he was appointed as Senior Vice-President, Group Risk Management and served as the Chief Credit Officer, then Chief Risk Officer, from 2004 to 2014. He was also previously a Director of Westbury Life Insurance Company; RBC Life Insurance Company; and RBC Dexia Investor Services Trust Company.