Stobart, former Lloyds TSB Group director of public policy and regulation, will chair N&P’s audit committee.
Stobart says: “From what I’ve seen of the society so far, it is a very customer-focused organisation.
“I think it is very important that we provide help to people looking at options for their long term savings. People are still leaving it far too late to plan for their retirement. As a mutual building society, it is also part of our mission to provide support to our members in looking at their options and to offer advice and products that will help them. N&P is well positioned to help in this area.”
N&P board chairman Gordon Horsfield says: “Eric brings a broad knowledge and deep experience of the UK retail financial marketplace and regulatory regime. He has had a long and successful career in the financial world. We are especially pleased to have secured his services.”