- Nicola Bannister will succeed Marc Armengol, subject to regulatory approval
- Appointment is dependent on regulatory approval for Santander UK’s acquisition of TSB
- Marc Armengol departing TSB to lead Sabadell Group
Santander UK today announced its intention to appoint Nicola Bannister as the new Chief Executive Officer of TSB Bank, dependent on regulatory approval being received for their acquisition of TSB.
Nicola will take up the position, subject to regulatory approval, as CEO upon the completion of the TSB acquisition.
She will succeed current TSB CEO, Marc Armengol, who it was announced in February, will be joining Sabadell Group as CEO after completion of the deal and an orderly handover to Nicola. Marc’s appointment is also subject to regulatory approval.
Nicola joined TSB in 2022 and has been a member of the TSB Executive Committee since 2024. She has, additionally, led the business transition for TSB since the proposed acquisition in July last year. Nicola has over 25 years of experience in Financial Services working across insurance, investments, retail and business banking. Prior to joining TSB, Nicola worked in Lloyds Banking Group for over two decades in a series of leadership roles including Collections Effectiveness Director and Network Director for the Lloyds and Bank of Scotland branch network.
Welcoming the appointment, Santander UK CEO, Mahesh Aditya said: "Nicola was the outstanding candidate to succeed Marc. She brings extensive experience of British retail banking across all sectors, with a keen understanding of what customers need and expect from their bank. I know she will ensure TSB continues to focus on delivering the best possible service and products for their customers in the coming months. Her appointment highlights the depth of talent within TSB and I am looking forward to working with Nicola and the TSB Executive Committee as we prepare for the next phase of our acquisition."
Nicola Bannister, TSB CEO-designate, said: "It's an incredible honour to be invited to become Chief Executive of this amazing bank, particularly as we join forces with Santander UK - with the prospect of offering even better banking for customers in the UK.
"I'm hugely grateful for the support I've received not only from TSB and Santander in backing my appointment, but also from the thousands of talented and passionate colleagues that I've worked alongside in recent years, who together make TSB so special."
- Ends -
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
Notes to Editors
Santander announced its intention to acquire TSB Banking Group plc from Sabadell Bank in July 2025.
Sabadell Bank announced in February the appointment of Marc Armengol as their new CEO, subject to regulatory approval.
Nicola Bannister Biography
Nicola joined TSB in 2022 and has been a member of the TSB Executive Committee since 2024. In her current role, Nicola leads all economic crime and collections activities, as well as key enterprise-wide services including planning, performance and assurance for TSB. She has, additionally, led the business transition for TSB since the proposed acquisition by Santander in July last year and is the Executive Sponsor of the gender inclusion network.
Nicola has over 25 years of experience in Financial Services working across insurance, investments, retail and business banking. She joined TSB in 2022 as Financial Support Director, progressing to Customer Support Director before taking on her current role. Prior to joining TSB, Nicola worked in Lloyds Banking Group for over two decades in a series of leadership roles.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. The bank serves its customers via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. At the end of 2025, Banco Santander had €1.4 trillion in total funds, 180 million customers, 7,100 branches and 198,000 employees.