TSB continues to strengthen Board with appointment of Mark Rennison

16th June 2020

The Board of TSB has today announced the appointment of Mark Rennison as an independent non-executive director, effective from 1 August 2020.

As Chief Financial Officer at Nationwide for 12 years, and a former financial services partner at PwC, Mark brings deep sectoral knowledge and significant board experience to the role. His appointment further strengthens the TSB Board following the appointments in H1 2020 of Lynne Peacock, César González-Bueno and David Vegara.

Mark will sit on the Audit and Risk Committees of the Board.

TSB’s Chairman, Richard Meddings, said:

“I am delighted that Mark has agreed to join us. He has extensive retail banking experience and understands the challenging environment mid-tier banks currently face.

“Mark’s arrival further demonstrates that the Board of TSB continues to evolve and strengthen through the appointment of high calibre industry leaders with the right experience to help us set the course for TSB.”

Mark Rennison said:

“I’m looking forward to working with the Board to help navigate these uncertain times, so TSB can achieve its strategic objectives now, and into the future.”

Mark’s appointment comes as Graeme Hardie steps down from his role as an independent non-executive director at the end of his term.

Richard Meddings paid tribute to Graeme’s contribution to TSB:

“Over the past three years, including significant challenges for TSB, Graeme has provided invaluable insight and counsel to enable the business to make the right decisions. He has been an outstanding colleague and we wish him well for the future.”

Mark Rennison biography

Mark is a chartered accountant with over 30 years’ experience in financial services. He was CFO for Nationwide Building Society for 12 years where he was a key figure in leading the business through the financial crisis, successfully maintaining balance sheet resilience and growth. He began his career at Price Waterhouse (now PwC), where he spent over ten years as a partner, specialising in financial services. Mark is also currently a non-executive director at Homes England.

Notes to editors

David Vegara was appointed to the TSB Board in January 2020. David is Banco Sabadell's Chief Risk Officer and an Executive Board Member. Previously, David was Deputy Director of the Western Hemisphere Department at the International Monetary Fund (IMF). Prior to joining the IMF, David served as State Secretary for Economic Affairs at the Spanish Ministry of Economy and Finance and was also Chairman of the European Union's Financial Services Committee.

César González-Bueno was appointed to the TSB Board in March 2020. Cesar started his career at The Boston Consulting Group and McKinsey & Co. During the last 22 years he has been the CEO of several banks, including ING Spain, Novagalicia and the Gulf Bank of Kuwait, and has also served as Head of Europe for the ING Group.

Lynne Peacock was appointed to the TSB Board in April 2020. She has held Board level appointments for over twenty years. Lynne is currently a non-executive director of Serco plc (starting in 2017) and Royal Mail plc (starting in 2019). She has previously been a non-executive director of Nationwide Building Society, Jardine Lloyd Thompson plc, Standard Life Aberdeen plc and Scottish Water. Lynne was Chief Executive UK of National Australia Bank from 2004 to 2011 and Chief Executive of Woolwich plc from 2000 to 2003.