Coventry Building Society has appointed Gary Hoffman as non-executive director and chairman, having received PRA approval.
Peter Ayliffe, interim chair, will resume the role of deputy chairman at the same time. Hoffman brings wide-ranging experience of financial services from a career that includes executive and nonexecutive positions in banking, insurance and payments services.
He will remain on the board of Hastings Group Holdings where he will become non-executive chairman in May 2018.
Ayliffe said: ‘I am delighted to announce Gary’s appointment as chairman of Coventry Building Society.
“He has held senior roles in financial services from early in his career and his extensive experience will be invaluable as the Society continues to grow and develop as the UK’s second largest building society.
“He combines a straightforward and pragmatic approach with a commercial understanding underpinned by a commitment to people and service.”
“These values are very much the values of the Coventry and I’m sure that under Gary’s leadership the Society will continue to grow safely and securely for the benefit of our members.
Hoffman said: ‘This is a wonderful opportunity for me. Being from the city, I’ve known Coventry Building Society all my life and seen it grow as a successful, member-focussed modern mutual.
“I’m delighted to be a part of its future and help it deliver the same qualities of value and service in a rapidly evolving financial services market.
“I strongly endorse the society’s consistent focus on Putting Members First. It will be an honour to serve as chairman of this great organisation.”
Roger Burnell, senior independent director, who led the selection and nomination process, said: “We conducted a thorough search, with the help of executive search consultants, to identify the most suitable person to become the next chair of Coventry Building Society.
“We had a strong selection of candidates but it was clear to us that Gary was the best choice to take on the role of chair.
“He has a very strong record at board level, a deep understanding of retail financial services and a strong empathy with our ethos, culture and commitment to serving our members. We are delighted that he will become our chair.”
Hoffman will be joining the board on 26 April 2018.