Business
TSB announces boss leaving to head up Spanish owner Sabadell
TSB has announced its boss will be leaving the bank to become chief executive of its Spanish owner.
Marc Armengol will step down to take up the new role at Sabadell.
The move is set to coincide with TSB being bought by its bigger rival Santander, which the firms expect to happen during the first half of this year.
Subject to the approval of regulators, it means Mr Armengol will take on the new job after May.
TSB said it will give an update on who will succeed him as chief executive closer to that time.
Mr Armengol rejoined TSB in March last year, having previously been a strategy director for the bank and a member of its board since 2022.
He had moved from his role as chief operating officer for Sabadell, which is the fourth largest bank in Spain and owner of TSB for more than a decade.
Santander struck a deal last year to buy the British bank from its parent firm Sabadell.
The deal valued TSB at £2.65 billion but the sale price is estimated to rise to £2.9 billion once the transaction completes.
Santander said acquiring TSB would help it be more profitable in the UK.
It plans to integrate the brand into its group, which raised concerns about the possibility for job cuts and branch closures across the combined group.
TSB chairman Nick Prettejohn said: “While Marc’s appointment is just reward for everything he has achieved personally, it is also testament to the role TSB has played in supporting Sabadell Group’s growth and success.
“Over the past five years, TSB has contributed significantly to the financial performance of Sabadell, and Marc has been at the heart of that transformation – first as TSB’s director of corporate strategy, then as a board director, and more recently as CEO.”
Mr Armengol will take over from Sabadell’s current chief executive Cesar Gonzalez-Bueno.
President Donald Trump said he’s considering sending the National Guard to U.S. airports, two days after the administration deployed Immigration and Customs Enforcement agents to several major U.S. airports following hourslong waits for travelers because of the partial government shutdown.
In a Truth Social post Wednesday, Trump blamed Democrats for the shutdown, which began Feb. 14.
“Thank you to our great ICE Patriots for helping. It makes a big difference,” he wrote in his post. “I may call up the National Guard for more help.”
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Monday, March 23, 2026.
Elijah Nouvelage | Bloomberg | Getty Images
More than 11% of TSA officers called out on Wednesday and over 450 have quit since the shutdown started, the Department of Homeland Security said.
Elevated absences of Transportation Security Administration officers, who are required to work though they’re not getting paid during the shutdown, have contributed to long lines at major U.S. airports, including in Atlanta, Houston and New York.
The DHS, which oversees both ICE and and the TSA, said the ICE agents will “support airports facing the greatest strain” but the department didn’t respond to requests for comment on what the ICE agents’ duties are. ICE agents are getting paid in the shutdown.
Airlines have been warning customers about potentially long security lines, while executives grow increasingly frustrated with lawmakers about the impasse. On Tuesday, Delta Air Lines said it suspended its airport escorts and other special services for members of Congress and their staff because of the ongoing partial shutdown of the DHS.
The shutdown comes as Democrats in Congress have demanded changes to how federal immigration enforcement operates in exchange for releasing DHS funding after two U.S. citizens were shot and killed by ICE officers in Minneapolis.
Low-income families are being offered help with the cost of food during the Easter holidays.
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