LONDON (Reuters) – The Bank of England said on Thursday it had fined Carlos Abarca, the former chief information officer of TSB Bank Plc, 81,620 pounds ($102,115) for his failure to adequately manage a 2018 IT migration programme which led to widespread disruption.
“The PRA has fined Mr Abarca because his management of a key outsourcing relationship fell below the standard we expect,” said Sam Woods, the BoE deputy governor in charge of the central bank’s supervisory arm, the Prudential Regulation Authority.
($1 = 0.7993 pounds)
(Reporting by David Milliken; editing by William James)
