Portman Building Society chief executive Ken Culley has announced he will retire at the end of the year. He has been in the role for 16 years.
His replacement will be the society's current group operations director Robert Sharpe.
Sharpe will become deputy chief executive with effect from October 1 and will succeed Culley on January 1, 2000.
Culley says: "I am delighted that Robert will be succeeding me as chief executive. In the five years since he joined the board as operations director he has made a significant contribution to the success of Portman and has transformed our business operations."