Stafford Railway Building Society has appointed Michael Smith as its chief executive.
Smith has worked at Swedish bank Handelsbanken for the last 13 years, contributing to the growth of their branch network in the local area.
He also served as one of the non-executive directors at the society for eight years, chairing its assets and liabilities and risk committees.
Smith said: “I am very proud, particularly as a local man, to take over from Susan Whiting, one of a long line of capable chief executives, who have left a tremendous legacy for the benefit of the members of this building society.
“I look forward to enhancing the Society’s successful business model in a stable and sustainable manner yet retaining the unique local Society culture for the benefit of its members.”
James Dean, chairman of the Stafford Railway Building Society, added: “The board of the society was very keen to ensure that this appointment met all the needs of a demanding role whilst recognising and respecting the enduring values of the society.
“We were delighted that Smith proved to be the best candidate in a strong and diverse field, and we know that he will ensure that our members are at the heart of all we do.
“The fact that Mike is a former director of the society additionally brings continuity to this role and a genuine understanding of what makes the society successful.”
Smith replaces Susan Whiting who steps down after almost seven years as chief executive, and will take over the role of finance director from Jeremy Hodgkiss to support Smith through the transition.