The former chief executive of Teachers Building Society James Bawa has taken over the same role at Monmouthshire Building Society.
Bawa has replaced outgoing CEO Andrew Lewis, who has retired after 25 years, 11 of which was spent at the helm.
Before joining Teachers in 2002 Bawa was chief executive of Scottish Legal Life after holding senior management posts at LV=, Friends Provident and NM Schroders.
Haydn Warman, chairman of Monmouthshire, said: “James’ proven commitment to high standards in service delivery coupled with his commercial acumen deeply impressed the society’s board in the run up to his appointment.
“He has a keen awareness of the society’s heritage and strong reputation within Monmouthshire and the wider South Wales area and his appointment will reinforce our position in the community as a prominent provider of financial services designed to meet the needs of our growing membership.”
Bawa is a member of the Financial Conduct Authority’s smaller business practitioner panel and previously sat on the Financial Services Authority’s regulatory decisions committee for six years.
The society said he is committed to Monmouthshire remaining a mutual provider.
Bawa said: “Monmouthshire Building Society has built up a strong reputation for delivering outstanding personal service over the past 147 years, and our financial strength is testament to ongoing relationships we’ve had with customers for generations.
“As a member-owned financial organisation, I’m determined to strengthen the Society’s strategy of being the mortgage and savings provider of choice for people within our local area, and to bring back into focus our primary goal to help first-time buyers buy their all-important first home.”