Our Board Members

Principality Building Society is run by the senior management team, who are overseen by the board of directors.

As a progressive mutual society, with a long and trusted heritage, Principality has built up a strong Board with a wide range of skills and experience. This knowledge and expertise enables the Board to build on Principality’s strong foundations and enhance the Members’ dividend.

Laurence Philip Adams, Chairman

Lawrence AdamsI was appointed a non-executive director of the Society in August 2013 and was elected Chairman in April 2014. I am also a member of the Remuneration and Nominations Committees.

I have more than 25 years’ experience in the banking industry, to help advise and guide the Society through the increasingly demanding and complex regulatory environment in which it now operates. Most recently I have been involved as a Non-Executive Director helping to rescue the troubled Northern Rock PLC in 2007 where I headed the Risk Committee.

I am a qualified solicitor and previously served as Managing Director and Global Head of Legal and Compliance for the investment banking wholesale division of ABN Amro Bank and had a similar role for Citibank.

Born in 1956, I lived in Neath until I was five before moving to Barry where I went to school. I currently live in London with my wife and two children. I am a non-executive director of Novae Group PLC and of Exane Limited. I also enjoy singing and gardening and I am a member of the London Welsh Male Voice Choir.

Nigel Charles Annett, Non-Executive Director

Nigel AnnettI joined the Board of Principality as a Non-Executive Director in October 2013 and was subsequently elected to the Society’s Board as a Non-Executive Director in April 2014. I now serve as Chairman of the Customer and Conduct Committee of the Board and also serve as a member of the Remuneration, Nominations and the Group Risk Committees. As Chair of the Customer and Conduct Committee I am responsible for making sure that the fair treatment of Members and customers is central to the Society’s culture and operations.

I used to work in investment banking, but after ten years I decided on a change of career and joined the Board of Welsh Water, initially as Planning Director. I was one of the founding Directors of Glas Cymru, the not-for-profit company that took over the ownership of Welsh Water in 2001. I believe strongly that mutual business models can do a great deal of good for the people and the communities that they serve.

Born in 1958 I have lived in Wales for more than 20 years and I have two grown up boys both of whom recently graduated from university.

Natalie Elphicke OBE, Non-Executive Director

Natalie ElphickeI was appointed to the Society’s Board as a Non-Executive Director in July 2012.

I am the Chief Executive of The Housing & Finance Institute, a national not-for-profit organisation which works to deliver more homes and better housing services by working across the public and private sectors. I am a qualified barrister and solicitor, and started my legal career in the government legal service becoming a city law firm partner. I am a national expert in my field of housing and property finance and a regular adviser to the UK Government. I have worked on over £4billion of complex finance transactions across a range of finance, investment and regeneration projects. I was appointed an OBE in the Queen's Birthday Honours 2015 for services to housing.

At Principality, I chair the Board's Group Risk Committee. I also sit on the Audit Committee and Nominations Committee. Prior to joining the Society, I led the structuring team for the Ely Mill project which Principality jointly founded with the Welsh Government and which is on track to deliver 800 new affordable homes in Cardiff.

I am 45, married with two children and my family home is in Kent.

Julie Ann Haines, Customer Director

Julie Ann HainesI was appointed to the Board in June 2016 and have been the Society’s Customer Director since 2012. In my role as Customer Director I am responsible for marketing, distribution and operations as well as having P&L responsibility for the core Society. My role is designed to ensure that regardless of how members choose to interact with Principality, they receive a consistent and high standard of service as well as offering the great products. I am also responsible for ensuring that our colleagues play an active part in the communities we live and work in demonstrating our mutual value through many community projects.

I originally joined the Society in 2007 to build and develop our award winning e-commerce business. Prior to Principality, I held a number of senior roles in sales, marketing and technology, working in leading customer-centric businesses including Sainsbury’s, Reckitt Benckiser and HBOS.

I am the current Chair of The Council of Mortgage Lenders (CML) Cymru, which represents mortgage lenders and promotes sustainable housing finance in Wales. I also sit on the Welsh Government’s Expert Panel on Housing for Older People, in a role that offers guidance to help Government ensure people can continue to prosper in their homes into old age.

I was born and educated in Scotland, but Cardiff has been my home since 1999. I’m married to a Welshman and we have two daughters. Outside of work I love watching rugby, am a fan of all types of music and a keen theatre goer.

Derek Howell, Non-Executive Director

Derek HowellI was appointed a Director of the Society in April 2014 and have subsequently been appointed to the role of Senior Independent Director. I also serve as Chairman of the Audit Committee and as a member of the Board Group Risk and Nominations Committees. As Senior Independent Director I act as a sounding board for the Chairman, serve as an intermediary for other directors, and am responsible for leading the annual review of the Chairman’s performance. I am also available to Members if they have concerns which they have not been able to resolve through the normal channels of the Chairman, Chief Executive or other executive directors or for which such contact is inappropriate.

I hold a degree in mathematics and qualified as a chartered accountant with Price Waterhouse – subsequently Pricewaterhouse Coopers [PwC]. During my time with that firm I worked originally in the audit team and eventually specialised in corporate recovery and insolvency work, becoming a partner in 1988. I retired from the PwC partnership in April 2013 and have been engaged on a part-time basis since as a consultant, working on the Lehman insolvency.

I am proud to have the continuing opportunity to serve as a Non-Executive Director of Principality and to contribute to the Society’s ongoing success. I believe the Society holds a unique place in the fabric of Wales through supporting the local communities which it serves.

I am also Treasurer of St John Cymru Wales and a trustee of both the National Botanic Garden of Wales and Artes Mundi.

Born in 1954, I am married with two grown up children and live close to the centre of Cardiff. I am a keen golfer, an enthusiastic rugby supporter and have an interest in theatre and the arts. I keep promising my wife that I will find some more time to travel with her in our classic car, particularly in the UK and near continental Europe.

Steve James Hughes, Group Finance Director

Steve HughesI was appointed Group Deputy Finance Director in December 2011 and was appointed to the Society’s Board in March 2013 as Group Finance Director with responsibility for Finance, IT and Business Change. I chair the Society’s Asset and Liability Committee and Model Governance Committee and I am also a member of the Group Management Committee and Group Executive Risk Committee. I also attend all meetings of the Board Audit and Risk Committees. I have particular responsibility for ensuring that the Society retains a strong capital base and has high quality and sufficient levels of liquidity.

I am a qualified accountant and bring over 20 years’ experience in finance to my role. Prior to joining the Society I held a number of finance roles across a range of industries including manufacturing, retail and insurance. Prior to joining the Society I performed the role of Finance Director of the Lloyds Banking Group General Insurance business.

I am Chairman of the Wales Advisory Board for Business in the Community (BITC) and I am passionate about our community work and the difference it can make to people’s lives in our heartland.

I was born in Swansea in 1972 and continue to live close to that city with my wife and three sons who share my passion for sport with our weekends taken up by both watching and playing football and rugby.

Robert Michael Jones, Group Risk Director

Mike JonesI joined the Society’s Board in February 2013 and was subsequently elected to the Board for the first time in April 2014. Having work for the Society since 1997, I was appointed Head of Group Risk in 2005 and promoted to the role of Director of Group Risk in 2009. I have attended full Board meetings since September 2009 and attend all meetings of the Board Audit, Group Risk, Customer and Conduct and Remuneration Committees. I also chair the Group Credit Risk Committee and Group Operational Risk Committee and I am a member of the Group Management Committee, Group Executive Risk Committee and the Asset and Liability Committees.

I have spent over 35 years working in financial services, starting my career at Midland Bank and subsequently at HSBC, undertaking a number of managerial roles in both the retail and corporate banking divisions. I hold a degree in Economics, an MBA from Henley Management College, and I am an Associate Member of the Chartered Institute of Bankers. Together with the Group Finance Director I have particular responsibility for ensuring that the Society maintains a strong capital base which will enable it to continue to grow and compete successfully over the long term.

Born and educated in Denbigh, North Wales, I now live just outside Cardiff and am married with two children. Outside of work I play tennis, and when time permits I very much enjoy hillwalking and climbing in Snowdonia, which also gives me the opportunity to visit friends and family in the Vale of Clwyd.

Sally Jones Evans, Non-Executive Director

Sally Jones EvansI was appointed to the Society’s Board in February 2015. Since joining the Board I have become Chair of the Remuneration Committee and also serve as a member of the Customer and Conduct and Nominations Committees. As Chair of the Remuneration Committee I am responsible for ensuring that the Group’s remuneration and reward strategy, policy and procedures follow best practice, support the strategy approved by the Board, and reflect the best interests of Members.

I have 30 years experience in retail banking and general insurance during which I gained a wide range of experience in leading change initiatives, mainly in customer facing areas including the branch network, telephone centres, internet banking and operations centres which will help me to contribute to the Society’s ongoing change programme. During my time with Principality I have already been impressed by the dedication and skills of colleagues at the Principality which is essential to the provision of good quality service to our Members.

I also sit on an advisory panel to the Welsh Government which seeks to stimulate the financial and professional services sector in Wales to create employment and economic growth, and I was formerly a non-executive director at Welsh Athletics.

I and my husband Alun were both born and educated in Cardiff, and lived in the Vale of Glamorgan until ten years ago when work commitments moved us to Wiltshire. We love Welsh rugby, music of many kinds, and I also have a deep interest in strategies to lift people out of poverty in the developing countries of the world, especially Africa.

David Rigney, Non-Executive Director

David RigneyI was appointed to the Society’s Board in March 2015. In addition to my Board responsibilities I also serve as a member of the Audit, Group Risk and Nominations Committees.

I am a Chartered Accountant and during my career I have performed a broad range of roles across the Post Office, BT and as a Board Director at Nationwide Building Society. I believe this experience leaves me well placed to contribute to the Society’s ongoing change programme and to have the opportunity to contribute to the Society’s continuing success. I passionately believe in the mutual business model and everything that I have seen so far at Principality demonstrates that the customer is truly at the heart of the business.

I am also Chairman of BACS Payment Schemes Limited, Non-Executive Director and Senior Independent Director of Elexon Limited and Non-Executive Director of Sports Resolutions.

Born in 1963 I now live in Bristol. Outside of work and family I have just completed a Masters Degree in Sports History focusing particularly on the positive impact of sport on communities and society. The work that Principality continues to do via sport will create a stronger Wales and a stronger business. It makes me proud to be part of it.

Graeme Howes Yorston, Group Chief Executive

Graeme YorstonI joined the Society as Chief Operating Officer in July 2006 and was appointed to the main Board in October 2007. As Chief Operating Officer I was responsible for all of the Building Society’s operations including distribution, marketing, IT and operations. I became Group Chief Executive in October 2012. I am Chairman of Nemo Personal Finance and Loan Link and Chairman of the Group Management and Group Executive Risk Committee. In addition I am a member of the Asset and Liability and Commercial Asset and Liability Committees and attend meetings of the Board Audit, Group Risk, Customer and Conduct and Remuneration Committees.

During my time in financial services I have worked for Abbey National where I carried out a number of senior roles including Regional Director for Branches, Director of Sales for the Call Centres and CIO for the Retail Bank. I have led a number of significant strategic change programmes including one of the largest CRM implementations in Europe.

In addition to my role at the Principality, I am a member of the Board of Governors at Cardiff Metropolitan University, I am on the Wales Council for the CBI as well as sitting on the Executive Committee for the CML, one of the leading industry trade bodies. I am also a Fellow of the Chartered Institute of Bankers and hold an MBA from Warwick Business School.

I was born in 1957 and now live close to Cardiff in the Vale of Glamorgan with my wife. I have three grown up children.

Principality. Where home matters.