The Building Societies Association has announced Jonathan Westhoff as its new chairman.
Currently chief executive at the West Bromwich Building Society, Westhoff has been elected to replace Dick Jenkins, who has been in the role since November 2015.
Westhoff has been deputy chairman at the BSA since November 2016 but now takes the helm at the organisation. Taking over the role of deputy is Cambridge Building Society chief executive Stephen Mitcham.
Westhoff says it is an “interesting time” to becoming chairman of the Association after a period of benign economic conditions, which have been good for both businesses and consumers.
He says: “The immediate future looks rather more uncertain, with growing indications that the unexpected economic glow which followed the EU Referendum is coming to an end.”
Westhoff joined the mutual sector in 2000 after spending 17 years at Barclays bank. He was finance director at Portman and Newcastle building societies before joining West Bromwich Building Society in 2009, where he was appointed chief executive two years later. He is also a councillor on the CBI West Midlands Council.
He adds: “Building societies are a critical part of the financial services landscape. More than 21 million people in the UK are members of a building society. Our members tell us our approach to doing business makes a difference to them – which is what counts.”