Yorkshire Building Society hires Susan Allen as CEO

Susan Allen

Bradford-based Yorkshire Building Society announced that Barclays executive Susan Allen has been appointed as its chief executive officer.

Yorkshire Building Society has assets of £56.4 billion and nearly three million customers. Its subsidiary companies include Accord Mortgages Limited.

Allen has more than 25 years of experience in financial services, having held senior executive positions at a number of large retail banks in the UK.

She is currently Head of Customer Transformation at Barclays.

Prior to that Allen was responsible for all of Santander’s UK Retail and Business banking businesses, supporting 15 million customers and with a nationwide network of branches and customer contact centres, following her role as Chief Transformation Officer.

Allen is also a former board member of UK Finance and has been a champion of diversity and inclusivity throughout her career.

She will take over from interim CEO Alasdair Lenman early next year.

Her appointment is subject to regulatory approval.

On July 27, Yorkshire Building Society announced its saving balances increased to £37.7 billion in the six months to June 30, 2022, up from £35.5 billion at the end of 2021.

The mutual said its statutory profit before tax for the six months rose to £243.4 million, up from £147.7 million at June 30 last year.

Yorkshire Building Society chair John Heaps said: “I’m delighted to welcome Susan to Yorkshire Building Society.

“Her skills and expertise will be of significant benefit to our members as we continue to invest in our digital servicing capability to help more members interact with the Society how, when and where they want to, and this will complement our branch and telephone channels.

“I look forward to working with Susan to ensure we continue to provide real and meaningful benefits to our members, customers and communities for years to come.”

Allen said: “I’m really excited to have the opportunity to lead an organisation which has such a strong sense of purpose and which supports members at key points in their lives.

“Yorkshire Building Society’s successful, sustainable mutual business model means it is well positioned to adapt to the changing needs of its members.

“I very much look forward to joining the team and leading the Society to deliver even more value for the members and communities it serves.”