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BSA elects new chairman

Principality Building Society chief executive Peter Griffiths has been elected chairman of the Building Societies Association.

Griffiths, the former BSA deputy chairman, replaces Hanley Economic Building Society chief executive David Webster.

Griffiths says he will promote choice and competition in the market and push for regulation to be developed in a way that does not put the mutual sector at a disadvantage.

Griffiths says: “Mutuals will continue to be challenged over the next couple of years as societies face increasing pressure to raise more capital and hold more liquidity.

Griffiths has been Principality chief executive since 2002. He worked for NatWest between 1977 and 2000, predominantly in commercial lending and a variety of management roles, including head of commercial services in Wales.

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