Leeds Building Society chief executive Ian Ward is to retire from his position at the end of the year. He will remain as a director during the first quarter of next year until the society’s annual general meeting.
Finance director and deputy chief executive David Pickersgill, who has worked for the society since 1987 and as a director since 1995, will succeed Ward, subject to regulatory approval. In February, Leeds posted pre-tax profits of £31.7m for 2009, up 56 per cent on the previous year.
Chairman Robin Smith says: “Ian has been highly successful in leading the society since 1995. During these 15 years we have almost quadrupled in size, achieved profitability each year with the cumulative profit total being £481m over this period, our capital and reserves have grown from £161m to £543m and we are now the UK’s fifth-biggest building society.
“The board agreed the succession strategy in October last year and we are announcing it now as we commence the selection process for a new finance director.”
Leeds Building Society has assets of £9.5bn, as at 31 December 2009, and 67 branches throughout the UK, Gibraltar and Ireland.