Tesco Bank announces changes to its Executive Team

Tesco Bank has today announced changes to its Executive Team with the appointment of Debbie Walker as Chief Risk Officer (CRO) and Gary Duggan as Chief Insurance Officer and Chief Executive Officer of Tesco Underwriting, a subsidiary of Tesco Bank. 

Debbie and Gary have been operating in these roles on an interim basis since June 2021, and their permanent appointments take effect immediately having gained regulatory approval. Debbie will also become a member of the Tesco Bank Board.

Tesco Bank has also announced that Michael Mustard, Legal Director and Company Secretary, will leave the Bank in February to pursue a role in a different sector after spending seven years at the Bank. 

Fiona Burden, currently Head of Legal, has been appointed to replace Michael and will take up the role upon his departure. A Tesco colleague for 8 years, laterally Fiona fulfilled the role of Head of Legal at Tesco Bank.  Prior to that she led the commercial legal team, has also had company secretarial experience and has, more recently, been acting as Interim Head of Supplier Management. Fiona also spent time in roles at Aviva and Standard Life prior to joining Tesco Bank.

In addition, Jacqui Mallin, Director of Colleague Experience, will leave the business after five years in role to enable her and her family to spend more time living abroad.  The process to recruit Jacqui’s successor is underway and an appointment will be announced in due course.

Commenting on today’s announcements, Gerry Mallon, Chief Executive of Tesco Bank, said:

“I’m delighted to confirm these appointments today. They demonstrate the strength of our succession planning, with both Debbie and Fiona being internal appointments, and our commitment to an effective gender balance in our Executive Team.  Having joined us on an interim basis, Gary helped transition Tesco Underwriting to being a wholly owned subsidiary of Tesco Bank and is joining the team on a permanent basis at an exciting time for the business. Michael and Jacqui will leave with our best wishes and thanks for their contribution to Tesco Bank, and I now look forward to working with Debbie, Gary, Fiona and the rest of the Executive team as we continue to help Tesco shoppers manage their money a little better every day.”


For media enquiries please contact:

Barry Cameron, Head of Media Relations and Public Affairs, Tesco Bank: 07841 192899

Debbie Walker

Debbie joined Tesco Bank as Head of Risk Operations in August 2017 to lead the Transformation programme and was subsequently promoted to the role of Compliance and Conduct Risk Director in July 2018.  She has been interim CRO since June 2021.  She is also the Sponsor of the Women at Tesco network at Tesco Bank.  Prior to joining Tesco Bank, Debbie worked for the Royal Bank of Scotland (RBS) Group, across both commercial and risk management roles in Corporate and Retail Banking.  Debbie is a Chartered Banker and has a degree in Economics from Heriot Watt University, where she now sits on the Risk and Audit Committee, as well as an MBA from Edinburgh University.

Fiona Burden

Fiona joined Tesco Bank in 2013 as a senior insurance counsel, then subsequently led the commercial legal team.  Since then, she has also taken on responsibility for the regulatory legal team, led the company secretarial team during a transformation programme and has, more recently, also been acting as Interim Head of Supplier Management. Fiona started her career as a Trainee Solicitor with Bennett & Robertson, subsequently moving to Maclay Murray & Spens, working as a solicitor in commercial property.  She then worked as a Corporate Associate at Morton Fraser LLP.  During this time, she achieved dual qualifications in Scots and English law.  Fiona also spent time in roles at Aviva and Standard Life prior to joining Tesco Bank.

Gary Duggan

Over the last six months, Gary has successfully led Tesco Bank’s Insurance business to help us become an end-to-end Insurance business following the acquisition of Tesco Underwriting. He has led the businesses preparation for the introduction of Fair Pricing and the mobilisation of our Insurance Transformation Programme. Gary has over 30 years’ experience in the financial services and insurance industry, running large scale businesses in the UK, Asia and the Middle East. Gary’s previous roles include Senior Advisor at Oxbow Partners, CEO of Saga Services and Managing Director at BGL.

About Tesco Bank

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco.  We’ve been around since 1997 and today we help more than 5 million customers manager their money every day.  Over 3,800 colleagues serve our customers seven days a week from our centres in Edinburgh, Glasgow, Reigate and Newcastle and we are also available through online and mobile banking 24/7.  Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No.SC173199. Registered Office; 2 South Gyle Crescent Edinburgh, EH12 9FQ.

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