Principality Building Society has appointed Mike Jones as interim chief executive officer with immediate effect, after chief executive Steve Hughes’ departure to become chief executive at Coventry Building Society.
Hughes joined Principality eight years ago and was previously group finance director.
Jones (pictured) has more than 40 years’ experience in the finance industry.
Laurie Adams, chairman of Principality, said: “While I’m sorry to see Steve move on, I’m also very grateful for all that he’s contributed to our organisation.
“Under his leadership the society has grown to more than £10bn in assets, delivered consistently strong financial results and excellent customer service for the benefit of all our members.
“He leaves the business in great shape, with a strong executive team in place who will continue the excellent work of the last few years.
“A search for his permanent successor will now commence.”