Saffron Building Society appoints new chairman

Saffron Building Society, the East Anglia mutual, has appointed its former vice-chairman Peter Harrison as chairman.

Harrison replaces outgoing chairman Richard Herbert, whose retirement was marked by Saffron’s annual general meeting held earlier this week.

Herbert has been on the Saffron board since 2002 and has been chairman since 2004.

He says: “The past two years have really illustrated the strength of the mutual model, even when under a number of pressures.

“Saffron is in an enviably strong capital position despite the recent financial storms, and I am confident that the society will continue to deliver a strong performance.”

New chairman Harrison worked at KPMG for 20 years and became a senior partner at the firm.

He says: “I am delighted to be taking on the role of Saffron’s chairman and am committed to continuing Richard’s extremely diligent running of the board.”