The Building Societies Association says it hopes former Stroud & Swindon Building Society chief executive John Sutherland will champion the need for diversity in his new role as a senior adviser to the FSA.
Sutherland, who will advise on the building society sector, has more than 36 years experience in retail banking including senior roles at Nationwide Building Society, where he was branch network divisional director and director of sales and marketing.
He was appointed chief executive of Stroud & Swindon in February 2010 and left the society when its merger with Coventry Building Society completed on September 1.
BSA head of mortgage policy Paul Broadhead says: “He will bring with his experience a pro-mutual stance and can champion the need for diversity in financial services, coupled with recent experience of running a building society during the recession.”
London & Country head of communications David Hollingworth says the building society sector will want Sutherland to champion its cause.
He says: “I am sure the mutual sector will feel some things will have a greater bearing on it than it will on the banks. The sector will want someone fighting its corner at the FSA, which presumably is what he is there to do. I think it is important we have a vibrant mutual sector because it brings different things to the table.”
Alexander Hall chief operating officer Andy Pratt says: “It is good to see practitioners taking on those types of roles. That is where you get more reasoned thinking. I think practitioners would be welcome from all parts of the industry.”