Following a 10-year term, with five years at the helm, Raymond Abbott will retire as chair of the Scottish Building Society towards the end of the year.
The building society has announced 40-year financial services veteran Ian Wilson as his successor, subject to regulatory approval.
Having been employed in senior management positions at high street banks, challenger banks and building societies, Wilson also has knowledge of the growing fintech sector, working with the likes of Monzo, Revolut and Kompasbank.
He commented: “I am very much looking forward to joining the team at Scottish Building Society and continuing in Raymond’s footsteps to build a positive future for the organisation.
“My experience across financial services and fintech firms will complement the ambitious growth trajectory mapped out by senior management at Scottish Building Society.”
Chief executive Paul Denton thanked Abbott for his contribution over the last decade.
“His presence and passion will be greatly missed, but Ian is a worthy replacement; he is a well-respected figure in the UK’s financial services sector and we are incredibly pleased to welcome him on-board.
“His appointment is timely as Scottish Building Society embarks on an exciting new chapter as we shape the future of the organisation, whilst remaining true to our purpose and providing flexible, personal and reliable services and products to our valued members.”
The Scottish Building Society is the world’s oldest remaining building society, with a heritage stretching back to 1848.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
