A former regional director for Clydesdale and Yorkshire Bank has been appointed as chief executive (designate) of Ipswich Building Society.
Richard Norrington (pictured) will assume the role in December, following the retirement of current chief executive Paul Winter, who has led the business since 2007.
Norrington has held leadership roles in the financial services sector for nearly three decades, having spent 16 year with Barclays and, more recently, ten years at Clydesdale and Yorkshire Bank where he was regional director for the East of England.
Speaking about the new role, Norrington vows that a priority will be to “continue the community focus the Society has developed as part of its long history as a mutual.”
Ipswich Building Society Chairman Sarah Evans says: “Following a thorough selection process I am delighted to confirm Richard Norrington’s appointment. Not only has Richard been active in leadership roles within our sector which make him the right fit for this role, but his experience and knowledge of our heartland region will equip him with a solid understanding of our members’ needs.”
Paul Winter joined Ipswich in the early 1980s and has been chief executive for nearly a decade.
Speaking of his decision to leave, he told Mortgage Strategy of his belief that “no one should lead an organisation for more than 10 years.”
Evans says: “We are grateful to Paul Winter for the tremendous commitment and energy he has shared with all of us. Paul has steered us through a multitude of changes in the sector and helped place the Society on the map as a responsible business, extending pride in our mutual status and commitment to local communities.”
Winter will continue to fulfil the functions of his role as chief executive until his departure and during a planned transition period.