The bank, which is owned by Spain’s Banco Sabadell, said Marc Armengol would take on the top job from early 2025.
TSB has named former director Marc Armengol as its new chief executive, as the bank’s owner continues to resist a hostile takeover bid from a Spanish rival.
He will replace Robin Bulloch, who announced his retirement after three years in the role and a 45-year career in banking. The leadership change comes as Sabadell’s board continues to fend off a so-called hostile takeover bid from rival Spanish banking group BBVA. The offer valued Sabadell at 12.2 billion euros , but proposals were rejected by its board of directors.
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