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MEMBERS BACKED the pay and bonus packages of Leeds Building Society’s board yesterday as remuneration of its four executive directors totalled £1.8m.

Almost 80,000 members voted at the mutual’s annual general meeting (AGM), with 91 per cent voting in favour of the remuneration report which saw chief executive Peter Hill receiving pay and perks worth £610,000 in 2013 - up from £581,000 in 2012.

Finance director Robin Litten received £244,000 up from 232,000 the year before. Sales and marketing director Kim Rebecchi received £192,000 compared to £187,000 in 2012, while her sister, operations director Karen Wint, who joined the board in December 2012, received £192,000.

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Meanwhile, chairman Robin Ashton, who took on the role in March last year, received £109,000.

More than 95 per cent of borrowers and savers voted for the re-election of Mr Litten, Ms Rebecchi and chairman of the remuneration Committee Les Platts, as well as the election to the board of Susan Cooklin as a new non-executive director.

Mr Ashton said: “I’m delighted by members’ support for the board following Leeds Building Society’s strong performance in 2013, which clearly demonstrates the continued effectiveness of our business model and the important role building societies have in UK financial services.

“Each director received more than 95 per cent votes in their favour.”

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Members voted either in person, online or by post which resulted in a donation of more than £9,000, shared between this year’s charities - Help for Heroes, World Wide Fund for Nature, British Heart Foundation, St George’s Crypt and the Leeds Building Society Charitable Foundation.

Net residential lending at Leeds Building Society rose 42 per cent to a best-ever £1bn in 2013, while pre-tax profit rose by 18 per cent to a record £64.2m.

Savings balances grew by £884m to £8.6bn, the highest level in its history. Total assets stood at £11.1bn at year end. It added 71,000 new members, taking total membership to a record 714,000.

Yorkshire and Skipton building societies will hold their AGMs on April 15 and 28 respectively.

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