Coventry Building Society has announced that Steve Hughes is to become its new chief executive officer.
Mr Hughes, who is currently the chief executive of Principality Building Society, will be appointed as the society’s next boss pending regulatory approval.
He will take over from Mark Parsons who announced his intention to retire in October.
No dates have been confirmed by the board of the Coventry as yet for the transition.
Coventry Building Society is the UK’s second largest building society and has grown steadily over the last 10 years.
It employs over 2,500 people at its head offices in Binley and Walsgrave in Coventry and across its branch network.
It has assets in excess of £46 billion and more than 1.9 million members.
Gary Hoffman, chairman of Coventry Building Society, said: “Steve is a great fit for us.
“He has the same vision for the way financial services should work and is passionate about serving members, supporting colleagues and making a difference to broader society.
“He’ll bring great leadership, energy and experience to the society and help deliver the ongoing change we need to stay relevant and successful.”
Mr Hughes said: “Coventry Building Society’s success is based on a mission and a set of values that run through it like a stick of rock.
“I share these values, and I believe in the mutual model.
“This is why I am so excited to be joining the society at a time of great change in the industry. “I’m really looking forward to building on the work it does and ensuring we have a building society that is relevant for current and future members, customers and partners.”
