CYBG Share News (CYBG)

(Sharecast News) - Debbie Crosbie will step down as chief operating officer at CYBG, the owner of the Clydesdale Bank and Yorkshire Brands, to take up the role of chief executive officer at TSB Bank, a subsidiary of Spain's Sabadell.Crosbie will step down as executive director with immediate effect but will remain in her role as COO for a period of time to facilitate an orderly handover with a leaving date to be agreed.She will also step down as an executive director of companies within the CYBG Group including Clydesdale Bank and Virgin Money with immediate effect.Fraser Ingram, currently Innovation and Change director, will be appointed as interim COO while the process to appoint a successor gets underway.Crosbie will be replacing Paul Pester, who stepped down as TSB's CEO in September after months of pressure following an IT failure earlier this year.Chairman Jim Pettigrew said: "On behalf of the board I should like to thank Debbie for her significant contribution over many years to the CYBG and Clydesdale Bank boards. Amongst Debbie's many achievements has been the development of a highly capable team which will continue to support the delivery of the Bank's operational and strategic goals. We all wish Debbie the very best for the future." Meanwhile, Richard Meddings, executive chairman of TSB, said: "In an impressive field of candidates, Debbie stood out. With over two decades of experience, superb retail and SME banking expertise, and a genuinely open and engaging style of leadership, we have found an outstanding new CEO."What's more, Debbie brings a clear challenger mindset to TSB and she shares our vision for what a strong challenger bank can achieve for customers. I'm confident that Debbie will have great chemistry with the TSB executive team and together they will drive our ambition to become the leading challenger bank in the industry."Debbie's appointment is another step forward against the three priorities we set out in September, namely: completing the work of putting things right for customers; achieving full functionality across all TSB products and services; and appointing the right CEO for the next chapter of TSB. As we look to the new year, TSB can now look forward with renewed ambition."