Principality Building Society strengthens executive team

Daniel Bevan - Editor

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Principality Building Society has strengthened its executive team with two senior appointments as it advances a transformation strategy under its recently appointed Chief Executive.

The UK’s sixth-largest mutual, and Wales’ biggest, confirmed Tim Blackwell as Chief Financial Officer and Graeme Forrester as Chief Risk Officer, following a period in which both had been serving in interim roles.

The appointments follow the arrival of Iain Mansfield as CEO in November, with the organisation moving to establish a refreshed leadership team to deliver what it describes as an ambitious and transformational strategy.

Blackwell has been acting as interim CFO since Mansfield’s appointment, during which time he has focused on driving a more commercial approach across the business.

He brings more than 30 years of experience in financial services, including advisory roles at professional services firms and senior finance positions across banking institutions.

Most recently, he served as Chief Financial Officer at Hampshire Trust Bank.

Forrester, who has been serving as interim Chief Risk Officer, takes on the role permanently with responsibility for overseeing the Society’s risk framework.

He previously joined from Coventry Building Society, where he was interim Chief Risk Officer following the proposed acquisition of the Co-operative Bank.

His career spans retail, corporate and investment banking, and he has been credited internally with promoting a more risk-aware culture to support the Society’s transformation plans.

Mansfield said: “I am delighted to welcome Tim and Graeme to the Society. We have attracted top talent to transform our business for the next generation of Members.

“It is essential that we have highly relevant savings and lending experience around our Board and in our Executive team, focused on the markets we operate in but also with recent experience of strategic transformation.”

Blackwell said: “I’m delighted to accept the position at Wales’ largest mutual at such a pivotal point in its history.

“Principality is well positioned for the future, and I look forward to continuing to strengthen our financial performance and support the Society’s long-term success.”

Forrester said: “From the moment I joined Principality, I could tell it was a business on the cusp of a transformational journey to meet Members where they are, whether in branch or online.

“I’m thrilled to be joining, and I look forward to continuing to strengthen our risk framework and support the Society as it delivers its strategy for Members.”