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)

Wed, 28 Jun 2023

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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