Raymond Abbott (pictured) has been appointed as chairman of the Scottish Building Society.
He has been vice-chairman and senior independent director at the Society since 2015, and a member of the board since 2013.
Abbot replaces Rob Golbourn who will remain as non-executive director until he retires in October.
Former Clydesdale Bank executive Jack Ogston becomes vice–chairman and David Peebles is now senior independent director.
He said: “It’s an honour to take over as chairman of Scottish Building Society. We have a proud history as the world’s oldest mutual, but the Society is not stuck in the past and it is an exciting time to take the reins.
“We have prospered through keeping sight of the importance of putting our member’s interests first and will continue to hold true to our core values of sound financial management and community benefit whilst keeping pace with the very best developments in financial services.”
Chief executive Mark Thomson added: “I’d like to thank Rob Golbourn for all that he has accomplished for the Society as chairman and I am delighted that Raymond will be continuing to drive the future growth of the Society. He is a financial sector veteran who brings vast experience that complements the professional knowledge and skills of other board members. I look forward to working closely with him going forward.”
Established in 1848, Scottish Building Society is Scotland’s only independent building society and the UK’s oldest. The Society has 5 branches and over 60 agency offices in communities across Scotland.
Abbott takes up the post on July 27.