TSB boss Paul Pester to step down after IT fiasco
1–10 of 38 posts
Re: TSB boss Paul Pester to step down after IT fiasco
#2With a golden parachute and his pension fully intact? That is conspicuously absent from the article but it is usually the way. And no bar in being a director of another firm. The executive class are a law unto themselves.
What happens to the lowly engineers pressured into cutting corners to meet an arbitrary deadline and denied the resources they needed? No such lavish rewards for them.
Re: TSB boss Paul Pester to step down after IT fiasco
#3All of the 'big' UK banks are still on similar out dated technologies as TSB was, they were the first to try to move and it hasn't paid off. I hope the other major banks
a) do it better
b) don't use it as an excuse never to do it
Re: TSB boss Paul Pester to step down after IT fiasco
#4With a golden parachute and his pension fully intact? That is conspicuously absent from the article but it is usually the way. And no bar in being a director of another firm. The executive class are a law unto themselves. What happens to the lowly engineers pressured into cutting corners to meet an arbitrary deadline and denied the resources they needed? No such lavish rewards for them.
Even the Wells Fargo execs responsible for actually breaking laws and stealing from customers got their compensation. If you can afford a top drawer law firm then why not steal everything that isn’t nailed down? There is no rule of law once you get to this level.
Re: TSB boss Paul Pester to step down after IT fiasco
#5All of the 'big' UK banks are still on similar out dated technologies as TSB was, they were the first to try to move and it hasn't paid off. I hope the other major banks a) do it better b) don't use it as an excuse never to do it
Yes, the more they wait to migrate, the more painful it will be
And of course expect the usual dissing by the 'frameheads on how these new systems are frail and how their old systems "are much better and foolproof" (they aren't)
Re: TSB boss Paul Pester to step down after IT fiasco
#6If nothing else, that saga gave us the perfect case study in what can go wrong with total cut-over migrations, rather than incremental releases, in complex systems
Re: TSB boss Paul Pester to step down after IT fiasco
#7All of the 'big' UK banks are still on similar out dated technologies as TSB was, they were the first to try to move and it hasn't paid off. I hope the other major banks a) do it better b) don't use it as an excuse never to do it
This wasn't an attempt at IT modernization. TSB had to migrate to a different system following their split from Lloyds.
Re: TSB boss Paul Pester to step down after IT fiasco
#8All of the 'big' UK banks are still on similar out dated technologies as TSB was, they were the first to try to move and it hasn't paid off. I hope the other major banks a) do it better b) don't use it as an excuse never to do it
I'm rooting for c) new banks arrive with new tech stacks and completely replace the old ones.
Re: TSB boss Paul Pester to step down after IT fiasco
#9Fix the issue then resign. Take responsibility not compensation.
Re: TSB boss Paul Pester to step down after IT fiasco
#10All of the 'big' UK banks are still on similar out dated technologies as TSB was, they were the first to try to move and it hasn't paid off. I hope the other major banks a) do it better b) don't use it as an excuse never to do it
Which is why I switched to Monzo. Their tech is so much better and is constantly being improved.
No reason not to switch really (unless you really, really need to deposit cash)