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BSA Conference: BSA elects new chairman

David Webster, chief executive of Hanley Economic Building Society, has been elected as chairman of the Building Societies Association.

David Webster, BSA chairman
David Webster, BSA chairman

Webster replaces Graham Beale, chief executive of Nationwide, and will hold the chairman position over the next year.

He says: “I feel extremely proud and privileged to be elected chairman of the BSA and I will be doing everything I can to promote the virtues and values of the mutual sector.

“These are tough times for our businesses and for our customers too, but I believe we can look ahead with optimism as the lessons of the last two years have reminded us that big is not necessarily best.”

He adds: “Mutuals have a fantastic heritage, but we also have the zest and vigour to adapt to 21st century markets and to demonstrate our relevance and uniqueness in a contemporary setting.”

Peter Griffiths, chief executive of Principality Building Society, has taken over as BSA deputy chairman from Webster.


Direct products take 54% of market

Direct-only mortgage deals accoun-ted for 53.7% of the mortgage market in April compared with just 22% in 2007. Financial research firm Defaqto has produced a report which highlights the growth in direct-only products. In April 2007 there were 590 direct-only deals compared with 1,400 in April 2010. Broker-only deals made up 25.8% of the market […]


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