TSB has appointed Marc Armengol, who joins from the High Street bank's Spanish parent company Sabadell, as its next chief executive.
Mr. Armengol replaces Robin Block, who is retiring after a 45-year career in retail banking. He joined TSB in 2019 and led the financial institution two years later. 
The move comes as Sabadell fends off a hostile takeover bid from Spanish giant BBVA and as TSB embarks on a restructuring process aimed at boosting profits.
BBVA launched a hostile takeover bid for Sabadell worth more than 12 billion euros in May after its board rejected a similar bid.
Mr. Armengol currently serves as Chief Operating Officer of Sabadell, a position he has held since March 2021.
Previously, he spent three years as Director of Corporate Strategy at TSB and lived in London.
Mr. Armengol first joined Sabadell in 2002, and the bank said, “He spearheaded the transformation of the bank's operating model, led major projects across the bank, and coordinated the integration of multiple acquisitions in Spain.'' ”.
The next TSB chief will return to the Bank of England in “early 2025” and will work with Mr Block to ensure an orderly transition. His appointment is subject to regulatory approval.
TSB Chairman Nick Prettejohn said Armengol is a “proven leader and knows TSB well.”
Mr. Armengol added: “I am pleased to rejoin TSB, a leading challenger bank and trusted brand.”
Mr Sabadell acquired TSB in 2015 for £1.7bn.
