Paul Pester
Paul Pester | |
|---|---|
| Born | January 14, 1964 Plymouth, England |
| Occupation | Business executive |
| Years active | 1990s–present |
| Known for | CEO of TSB Bank (2013–2018), Chairman of Tandem Bank, co-founder of Archie |
Paul David Pester (born 14 January 1964) is a prominent British business leader and currently serves as Chairman of Tandem Bank. He also holds the position of non-executive Director and is a co-founder of the FinTech accelerator Archie. From 2013 until 2018, Pester was the Chief Executive Officer of TSB Bank.
Early life
Raised in Plymouth, Pester attended Tamar High School. He earned a first-class honours degree in physics from the University of Manchester and subsequently completed a doctorate (DPhil) in mathematical physics at Brasenose College, University of Oxford.
Career
Pester's career began in management consulting at McKinsey & Co. He later became Group CEO at Virgin Money, overseeing the company’s expansion into the Australian market. His executive experience also includes senior positions at Lloyds TSB, Santander, and Lloyds Banking Group.
In May 2011, he was appointed CEO of Project Verde, responsible for converting 632 Lloyds branches divested under EU State Aid regulations into a new banking entity, which was later branded as TSB. Pester led the launch of TSB in 2013 and managed its initial public offering on the UK stock market in June 2014. His remuneration package that year reportedly surpassed £1.6 million. Following a significant IT system failure at TSB, he stepped down from his role, receiving considerable severance pay as per contractual agreements. Regulatory bodies including the FCA and PRA, along with legal investigations, attributed the IT problems to Sabadell’s IT subsidiary; Pester was cleared of any misconduct.
In October 2015, Pester joined the High Level Treasury Advisory Group, advising the Chancellor on enhancing competition within the banking sector. He was appointed chair of the Fairer Finance Consumer Advisory Board in 2020. In 2021, he co-founded Loop, a social app designed for money sharing, and in 2022 was named chairman of Tandem Money, which acquired Loop in 2023. Additionally, he has provided consultancy to private equity firms such as KKR, Centerbridge, and Pollen Street Capital.
In 2023, Pester co-established Archie, a FinTech accelerator.
Personal life
Pester resides in London with his second wife; they married in 2017 following his divorce in 2015. He is an active competitive swimmer and triathlete, having represented Team GBR at the 2022 European Aquathlon Championships held in Bilbao.