TSB boss misses out on bonus after IT disaster

The Chief Executive of TSB will not be receiving a bonus of £2million following the bank’s ongoing IT catastrophe.

Paul Pester told the Treasury Committee that the firm had received 40,000 complaints after customer accounts were moved to a new computer system.

Some customers are unable to access their accounts as a result of the fiasco, while many of those who have managed to log in to online accounts have been met with bizarre errors, such as a Twitter user who found his savings had dropped to minus £1.2million.

Pester told MPs he regrets attempting the new computer system. "If there is one decision in my life that I could change it was the decision to go ahead with the migration,” he said. “Clearly that was a terrible decision for our bank, for our customers and for me personally."