Our Board
Board functions and responsibilities
The Board of Directors is the overall governing body of Principality Building Society. The Board is responsible for the overall stewardship of the Society (including subsidiary businesses) to ensure its long-term success.
The main functions of the Board include:
- Setting strategy and monitoring performance;
- Determining the Society’s overall Purpose;
- Setting the annual budget and medium term plan and approving capital expenditure levels;
- Ensuring that the Society is managed in the best long term interests of current and future Members and
- Determining the Society’s overall risk appetite;
- Setting the Society’s remuneration policy;
- Ensuring that an appropriate culture is in place (including setting an “appropriate tone form the top”);
- Oversight of governance arrangements.
You can find out further details here: Matters Reserved for the Board and Board Composition Policy.
Meet the Board
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.
You can find details of all our directors below:
Joined the Board in July 2021. Chair of Board Risk Committee. Member of Audit Committee and Governance and Nominations Committee. Senior Independent Director.
Skills and experience
I have 30 years of experience in domestic and international banking within globally renowned organisations including Lloyds Banking Group, Barclays Bank plc and GE Capital. I was a Non-Executive Director for TransUnion UK and Vanquis Bank.
Contribution to the Society’s long-term sustainable success
My experience across retail, business, wealth and asset finance sectors and in risk leadership roles enables me to have oversight of current and emerging risks that will ensure that the Society continues to be successful and sustainable for its Members.
Other roles
Non-Executive Director at Lendable Limited and FCE Bank plc (trading as Ford Credit).
Joined the Board in September 2019. Chair of Remuneration Committee. Member of Governance and Nominations Committee and Audit Committee.
Skills and experience
During my career, I have held a range of Executive and Non-Executive Director positions and have also worked in a consultancy role with companies in the UK, Europe and the US. My previous experience includes five years spent at the Britannia Building Society, as well as senior roles at Tesco Compare and Confused.com.
Contribution to the Society’s long-term sustainable success
My experience in the Fintech/E-commerce arenas will enable me to make a positive contribution to the Society’s ongoing digital transformation which will support the continued delivery of stand-out experience for our Members.
Other roles
Non-Executive Director of Co-Op Insurance, Non-Executive Director of the Milford Haven Port Authority. Trustee of the Alacrity Foundation. Chair of GCRE Ltd and a Director of Awen Consulting Services Ltd. I am also a proud ambassador for Tŷ Hafan.
Joined the Board in April 2018. Chair of Audit Committee. Member of Board Risk Committee, Remuneration Committee and Governance and Nominations Committee.
Skills and experience
I am a qualified accountant (ACA) and have an MA in Languages and Economics. I trained and qualified at Ernst & Young in the Financial Services audit department followed by a further three years in corporate tax. During my career, I have performed a broad range of roles across multiple sectors including a term of six years as a Non-Executive Director of the West Bromwich Building Society.
Contribution to the Society’s long-term sustainable success
My experience across the different sectors of financial services, payments, professional services, multimedia and telecoms enables me to contribute to the Society’s change programme and to the Society’s continuing success.
Other roles
Non-Executive Director of Glendrake Limited.
Joined the Board in May 2016.
Skills and experience
I was appointed Chief Executive Officer in 2020, prior to that I had been the Society’s Customer Director since 2012. Before joining Principality, I was a senior manager in sales, marketing and technology for companies such as Sainsbury’s and HBOS. Working closely with customers has always been a critical part of what I do.
Contribution to the Society’s long-term sustainable success
I am passionate about the Society, ensuring we build on our mutual ethos and values, rooted in our communities, its fantastic customer experience and in meeting your needs. My role is to lead the Executive team to ensure we continue to deliver the Society’s strategy for the long-term interests of our Members and ensure that the organisation runs smoothly day-to-day, supporting colleagues and building an inclusive and engaging culture.
Other roles
Member of the UK Finance Mid-Tier Strategic Advisory Committee. Member of the International Advisory Board of Cardiff Business School. Trustee of the Wales Millennium Centre and Deputy Chair for BSA.
Joined the Board in February 2015, elected Chair in April 2021. Chair of Governance and Nominations Committee. Member of Remuneration Committee.
Skills and experience
I spent 30 years in retail banking and general insurance during which I gained wide ranging experience in leading people through change, mainly in areas directly serving customers. I believe that helps me to support the Executive Leadership team to shape the Society’s ongoing change agenda.
Contribution to the Society’s long-term sustainable success
I am responsible for leading the work of the Board, ensuring the Board operates effectively in setting the strategy, overseeing the performance and setting the risk appetites of the Society. I am also responsible for ensuring robust succession plans are in place, that the Society maintains the highest standards of corporate governance and that we have an open and transparent culture.
Other roles
I sit on the Board of Hafren Dyfrydwy Ltd (a subsidiary of Severn Trent PLC). I have a special interest in tackling poverty and injustice and serve as a Trustee Director of Tearfund, the humanitarian and overseas development charity.
Joined the Board in January 2024. Member of Governance and Nominations Committee.
Skills and experience
I have over 30 years in the financial sector working for Lloyds Banking Group, Chase Manhattan Bank, ABN AMRO and Barclays Bank, including Managing Director for Barclays Commercial Wales and the South West. I serve as chair of another leading mutual organisation, LV=, the UK life assurance company, as well as serving on a number of other boards.
Contribution to the Society’s long-term sustainable success
My experience as public, private and mutual company board chair and career in the financial sector, with a grounding in regulation, governance, risk, compliance, financial performance, customer service, executive remuneration and member relationships, will give me the oversight required as a member of the board and to contribute to the continued success of the Society.
Other roles
As well as chair of Liverpool Victoria Financial Services Limited, I also chair PCF Bank Group PLC, RCI Bank UK Ltd and W.H. Ireland Group PLC.
Joined the Board in December 2019.
Skills and experience
I was appointed Chief Financial Officer in July 2022. My remit extends across Finance & Treasury, Commercial Lending, Strategy, Architecture, Nemo and Property. I joined the Society in January 2015 initially as Finance Director for Nemo (Principality's second-charge loans subsidiary) before becoming Nemo's Managing Director. Prior to my current role, I was appointed Chief Operating Officer in October 2017 and joined the Board in December 2019. I am also a director and Chair, Nemo Personal Finance Ltd. I am a Chartered Accountant with more than 20 years' experience across retail banking, as well as, start-up and private equity owned consumer financial services businesses in the UK.
Contribution to the Society’s long-term sustainable success
My role is to ensure we plan and manage the Society’s capital, liquidity and funding in the long-term interests of our Members and the sustainability of the Society.
Joined the Board in May 2023. Member of Remuneration Committee, Board Risk Committee and Governance and Nominations Committee.
Skills and experience
I have been actively involved in building and running businesses, incubators, innovation policy, fund management, and venture capital for over 20 years across the US, Europe, and the Middle East and am also a prolific and active Angel Investor across those territories in my own right. During my career I have built and managed significant investments and portfolios and served with some of Europe’s leading Private Equity firms with investments in over 50 companies.
Contribution to the Society’s long-term sustainable success
I am highly experienced in mergers and acquisitions, fund raising, IPOs and exits. I have extensive board experience (listed companies through to SMEs and start-ups) and currently serve on three boards in a non-executive capacity. I am known globally as an innovation policy and incubator and corporate governance expert and provide consulting services in this area to SMEs and government establishments across EMEA. I am also well regarded in the field of board evaluations and assessments, and work with institutions, family offices, and funds to design, build, and leverage boards to becomes effective in their objectives.
Other roles
I am also on the Boards of The Royal Mint Limited, Miratech Limited and Impact Holdings. I am also an active member of the Young President’s Association (YPO), currently serving on the Chapter committee
Board committees
The Board meets regularly and operates through its six committees:
- Audit Committee
The Audit Committee assists the Board in fulfilling its oversight responsibilities relating to financial reporting; systems of risk management and internal control; the prevention of fraud, tax evasion, bribery and corruption; internal audit and external audit. - Governance & Nominations Committee
Lead the process for Board appointments and make recommendations to the Board. - Board Risk Committee
The role of the Board Risk Committee is to ensure that there is a co-ordinated approach towards the oversight and management of key strategic and corporate risks.
- Remuneration Committee
Responsible for oversight of the development and implementation of the Society’s remuneration policies and practices. - Board Sub-Committee for Commercial Approvals
The role of the Board Sub-Committee for Commercial Approvals is to approve Commercial Applications in accordance with Commercial lending policy that require Board approval. - Non-Executive Remuneration Committee
The role of the Committee is to set and review Non-Executive Directors fees ensuring that these are appropriate to attract and retain high quality individuals to the Society.
Internal Audit Charter
The purpose of Internal Audit is to provide an independent and objective opinion to the Board on the adequacy and functioning of the system of internal control for the Society.
This charter formally defines the purpose of the Internal Audit function within Principality Building Society as well as its authority, scope and responsibility.
It underlines the importance of Internal Audit’s independence and objectivity and describes how the Internal Audit function interacts with the business and with the Board’s Audit Committee.
Click on the link to read Principality Building Society's Internal Audit Charter.
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