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World’s oldest mutual appoints new chairman


The world’s oldest mutual lender, Scottish Building Society, has appointed Raymond Abbott as chairman.

He takes over the role as chairman from Rob Golbourn.

Golbourn will remain as non-executive director until he retires from the board in October 2017.

Abbott has been vice-chairman and senior independent director at the society since 2015, and a director since 2013.

Former Clydesdale Bank executive Jack Ogston has become vice–chairman.

Abbott says: “It’s an honour to take over as chairman of Scottish Building Society. We have a proud history as the world’s oldest mutual, but the society is not stuck in the past and it is an exciting time to take the reins.”

Scottish Building Society chief executive Mark Thomson says: “I’d like to thank Rob Golbourn for all that he has accomplished for the Society as chairman and I am delighted that Raymond will be continuing to drive the future growth of the society.”

Scottish Building Society was founded in 1848. It has five branches and more than 60 agency offices across Scotland.



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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Nationwide’s footprint goes back to 1846 via Portman and the Provident Union Building Society in Ramsbury.

  2. i 18th August 2017 at 8:39 am

    Nationwide of ten goes backward – when going forward. Secondly NAtionwide is no longer a Mutual – merely classes itself as a Mutual, yet as I understand receive 7% commision for churning or switching clients from e.g Nationwide ISA’s Cash into insurance/platorm ISA with commissions of some 7% ? Is that relally a Mutual Status ? It is certainly Shareholder and commercial benefit to the lender – but is it treating custoemrs fairly – or just abusing them or exploiting them ? Well done the Scottish Building Society for quality of service and trust earned over the decades.

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