Steve Hughes

3 February 2017

Principality Building Society Appoint New Chief Executive Officer

Principality Building Society has announced the appointment of Steve Hughes as Chief Executive Officer (CEO).

Steve, who joined the Society in 2011, is currently the Group Finance and Transformation Director. Steve and the outgoing CEO Graeme Yorston, who announced last August his decision to step down, are working through an orderly transition and handover with a view to Steve moving in to the role in early March.

Steve has 25 years’ corporate experience in manufacturing, retail and financial services. In his current role he has been responsible for all aspects of financial management within the group and has played a key role in shaping the strategy and future transformation of the Society.

Principality Chairman, Laurie Adams, said: “After a rigorous selection process, I am delighted to announce Steve as our new CEO. His commitment to our mutual values, invigorating leadership, financial and commercial acumen will help ensure he builds on the Society’s success.

“During his time at Principality Building Society, he has played an important role in keeping the Society safe during some difficult economic conditions. He is the right person to ensure we continue to deliver long term value and excellent service to both existing and future members.

“I would like to take this opportunity to thank our outgoing CEO Graeme Yorston. Graeme has led this business through a hugely successful period and he exemplifies the mutual sector values. I am extremely grateful for all that he has done for this business over the past 10 years and more recently as CEO.”

Steve said: “It is a great honour and privilege to be appointed as CEO of the Principality Building Society which has a fantastic heritage of 156 years as a member-owned organisation. Our dedicated colleagues throughout the group have our Members and customers at the heart of everything they do. Building on our financial strength we will seek to invest in our business and it will continue to be run for the benefit of our Members.

“I am looking forward to working with the board, our leadership team and colleagues as we continue to build on our strong performance.”

Published: 03/02/2017