Skipton names Ian Cornelius interim CEO

Ian Cornelius

Skipton Building Society has announced the appointment of Ian Cornelius as interim group chief executive from April 26.

Currently the mutual’s commercial and strategy director, Cornelius will move into the role following January’s announcement that current group CEO David Cutter will leave Skipton after almost 30 years on April 25.

“The process of recruiting a high calibre permanent successor with the skills and capability to lead a complex and diversified business like the Skipton Group, encompassing over 17,700 employees is well underway,” said Skipton.

Cornelius was appointed to the Skipton board in 2012. He previously held senior positions at Homeloan Management Limited, Virgin Money, Bradford & Bingley, Capital One and Boots.

Skipton Building Society chair Robert East said: “I am pleased that Ian Cornelius, Skipton’s commercial and strategy director, will take over as interim group chief executive.

“Ian has over 20 years’ experience in financial services and has been on the Skipton board for 10 years, working closely alongside our outgoing CEO, David Cutter.

“Working with specialist external recruiters, the process to find David’s successor is progressing well.

“In the meantime, I welcome Ian as he steps into the helm to further build upon our group strength and deliver outstanding service for our customers and colleagues.”

Cornelius said: “Serving our colleagues and customers for the past 10 years has been one of the highlights of my professional career.

“I’m very pleased to continue this work in the capacity of interim group chief executive.

“The society is the heartbeat of a dynamic and high performing group of businesses, something we owe a great deal of gratitude to David Cutter for his dedicated service and contribution.

“My challenge is to further build on his excellent stewardship and to ensure the Society continues on its successful path ready for its next chapter.”

Last month, Skipton announced that its 2021 profit before tax increased 129% to £271.8 million as it grew its membership to more than 1 million customers.

The UK’s fourth-largest building society said its savings balances rose by more than £1 billion to £19.8 billion.

Skipton’s Connells business completed the acquisition of Countrywide plc during the year, creating the UK’s largest estate agency.

The combined Connells group delivered dividends totalling £60 million to the mutually-owned Society and has already repaid £124.8 million of the £253 million which was lent to Connells as part of the acquisition deal.

Connells profit before tax increased by £59.5 million to £111.3 million.