November 19, 2018 / 7:50 AM / 6 months ago

UPDATE 1-Britain's TSB Bank names Crosbie as new CEO

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LONDON, Nov 19 (Reuters) - Britain's TSB Bank, a subsidiary of Spain's Sabadell, on Monday named Debbie Crosbie as chief executive after its previous CEO resigned over a botched IT project.

Crosbie joins from CYBG PLC where she has worked for over 20 years, most recently as chief operating officer.

She replaces Paul Pester, who stepped down as the bank's chief executive in September after months of pressure over a botched IT project that has cost more than 320 million euros ($365 million).

The bank saw a net loss of almost 17,000 current account customers in the second quarter of this year following a systems outage, data from payments authority Pay.UK showed.

TSB serves more than 5 million customers and has 550 branches across Britain.

Richard Meddings will continue in his role as executive chairman, before returning to his previous position as non-executive chairman when Crosbie joins the bank in 2019.

$1 = 0.8767 euros Reporting by Dasha Afanasieva and Sinead Cruise; editing by Silvia Aloisi and Jason Neely

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