Bradford-based Yorkshire Building Society has appointed Richard Bowles as Chief Risk Officer to lead the mutual’s compliance, risk and legal teams.
“He joins at a crucial time as the function changes in line with the Society’s continued growth,” said the Yorkshire.
“Richard joins from Coventry Building Society, where he was Chief Risk Officer. His career in financial services spans 20 years, having worked in various risk roles at many of the major banks, including Lloyds, TSB and Barclays.
“The appointment comes as Richard Wells, who has been with the Society since 2010, prepares to retire in the spring. Richard Bowles’ appointment is subject to regulatory approval.”
The Yorkshire has recently reported assets of £62.2 billion and nearly three million customers. Its subsidiary companies include Accord Mortgages Limited.
In July, 2023, the Yorkshire 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: “We’re delighted to welcome Richard to the organisation. He is a forward-thinking and commercially-focused Chief Risk Officer, with broad experience and a proven track record for delivering major transformation.
“At a time when our risk function is looking to develop and deliver major change, his knowledge and experience will be invaluable to ensuring the next chapter of our success
“We’d like to thank Richard Wells for his professionalism and determination in advising and guiding us through regulatory challenges and changes during his lengthy and much-valued service, and we wish him well in his retirement.”
Bowles said: “Living in Yorkshire and having worked in financial services all my professional life, I’ve always taken a keen interest in the successes of Yorkshire Building Society, an organisation with a strong brand and heritage.
“So I’m delighted to be joining YBS as their new Chief Risk Officer, especially at a time when the Risk Division is evolving in line with the growth of the Society.
“I’m looking forward to driving the organisation’s risk strategy and playing a key role in continuing to provide a top-class function for our colleagues and customers.”