The Coventry Building Society has appointed a director of the Prudential Regulation Authority to its board.
Martin Stewart will join as a non-executive director from 1 September 2018. He will also chair the board’s risk committee.
Stewart has held a number of roles at the PRA and is currently director of banks, building societies and credit unions. He has been with the regulator for eight years and helped shape the direction of the regulatory regime following the financial crisis.
He has worked in financial services for many years and has 18 years’ experience at board level.
Coventry Building Society chair Gary Hoffman says that Stewart has “extensive business experience” in financial services and has an in-depth knowledge of both regulatory and commercial matters
Announcing that he was to leave the regulator in the summer of 2018, Stewart said: “After eight years leading the prudrntial supervision of UK banks and building societies I will be standing down in the summer of 2018.” He described it as a “privilege” to work in this role “thought such challenging times”.