The Building Societies Association (BSA) have elected David Webster, Chief Executive of the Hanley Economic Building Society, as the new Chairman for 2012/13. Webster replaces Peter Giffiths, Chief Executive of the Principality Building Society, who had held the role during 2011/12.
The role of Deputy Chairman will be held by David Cutter, Group Chief Executive of the Skipton Building Society.
Commenting on his new role, Webster said:
"The continued pressure on the UK economy and the fall-out from the financial crisis are still clearly having an impact on consumers, the financial services industry and the country as a whole. At this time and with the UK public feeling the pinch, the role and opportunity for a trusted, customer-focused mutual sector in financial services has never been greater.
Mutuals have a fantastic past and a heritage that consumers clearly relate to. We have also had the vision and energy to keep the heart of that heritage intact, whilst evolving into modern mutuals, reflecting the changes in society as a whole.
This next year will clearly be a challenging one with uncertainties such as the fate of the Euro still hanging in the balance. That said, mutuals have made a good start to the year bucking the lending trend for the sector as a whole and filling the gap that is being left by the retrenchment of some of the big banks. Our ability to continue to do this would be helped, were the regulator and government to align their currently conflicting agendas of prudence with regulation and lend and grow."
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