Bradford-based Yorkshire Building Society announced that after nine years at the mutual, chair John Heaps will step down and be succeeded by Annemarie Durbin, who will join the board as chair designate by the end of the year.

Durbin is currently chair at Cater Allen Private Bank and a non-executive director and chair of remuneration committee on the boards of Santander UK, Persimmon and Petershill Partners.

“With over 30 years’ experience in retail, commercial, corporate and institutional banking, she is a qualified lawyer with expertise across general management, operations, HR, legal and compliance, as well as being an executive coach and mentor,” said Yorkshire Building Society.

“Annemarie is relinquishing her roles at Santander and Cater Allen to take up her role as chair designate at the society during her handover period with John Heaps. Her appointment is subject to regulatory approval.”

Yorkshire Building Society has assets of £58.8 billion and nearly three million customers. Chelsea Building Society and Norwich & Peterborough Building Society are part of Yorkshire Building Society. Its subsidiary companies include Accord Mortgages Limited.

Yorkshire Building Society CEO Susan Allen said: “I’m delighted to welcome Annemarie to lead our board. 

“Her expertise in the financial services sector and beyond will be invaluable to ensuring we continue to build on our strong heritage with the future in mind.

“I, and the rest of the board are very much looking forward to working with her.”