Bradford-based Yorkshire Building Society announced that its chief financial officer (CFO) Alasdair Lenman plans to retire in June this year after seven years with the mutual and that it is working with external executive search experts to find a permanent successor.

The Yorkshire has assets of £62.2 billion and nearly three million customers. Its subsidiary companies include Accord Mortgages Limited. 

In July, 2023, the mutual said its balances increased by £3.6 billion to £45.6 billion in the six months to June 30, 2023, amid rising interest rates.

Yorkshire Building Society CEO Susan Allen said: “I would like to thank Alasdair for his outstanding contribution to the Society over the last seven years.

“He has been CFO during a period of significant challenge as we have addressed the complexities of the Covid Pandemic and a period of historically low interest rates.

“During this period, our mortgage and savings balances have increased to more than £45bn, we have consistently paid higher than the market average rate to our savers and delivered strong profitability.

“We are working with external executive search partners to find a permanent successor to Alasdair.

“In the meantime, I know colleagues will continue to ensure everything we do is in the long-term best interest of our members and customers.”

Lenman said: “I have thoroughly enjoyed my time at Yorkshire Building Society and it has been a great privilege to have been CFO at a member owned mutual building society.

“Now is the right time for me to plan my retirement, particularly when the society is in such good shape.

“I would like to thank all my colleagues for their dedication and hard work and know they will continue to put members at the heart of everything they do.”