TSB kicks off restructuring as CEO prepares to step down

TSB kicks off restructuring as CEO prepares to step down
Taranaki locals are as parochial about their bank as they are about their mountain. (Image: Depositphotos)
Paul McBeth
TSB Bank has started a consultation process with staff, proposing a series of changes across the business as chief executive Donna Cooper prepares to leave the country’s seventh-biggest lender by assets. Cooper departs the New Plymouth-based bank on July 28, ending five years in charge of TSB and presiding over faster lending growth than the wider system. That was accompanied by a sharp increase in operating costs and declining rates of profitability, with net profit of $19.9 million in the March year almost half the prior year....

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