Yorkshire Building Society appoints new chief risk officer

He joins at a crucial time, as the society says its function is changing in line with its continued growth.

Mr Bowels joins from Coventry Building Society, where he was chief risk officer. His career in financial services spans 20 years, having worked in various risk roles at many of the major banks, including Lloyds, TSB and Barclays.

The appointment comes as Richard Wells, who has been with the society since 2010, prepares to retire in the spring. Mr Bowles’ appointment is subject to regulatory approval.

Susan Allen, chief executive at Yorkshire Building Society, said: “We’re delighted to welcome Richard to the organisation. He is a forward-thinking and commercially-focused chief risk officer, with broad experience and a proven track record for delivering major transformation.

“At a time when our risk function is looking to develop and deliver major change, his knowledge and experience will be invaluable to ensuring the next chapter of our success

“We’d like to thank Richard Wells for his professionalism and determination in advising and guiding us through regulatory challenges and changes during his lengthy and much-valued service, and we wish him well in his retirement.”

Richard Bowles said: “Living in Yorkshire and having worked in financial services all my professional life, I’ve always taken a keen interest in the successes of Yorkshire Building Society, an organisation with a strong brand and heritage.

“So I’m delighted to be joining YBS as their new Chief Risk Officer, especially at a time when the Risk Division is evolving in line with the growth of the Society.

“I’m looking forward to driving the organisation’s risk strategy and playing a key role in continuing to provide a top-class function for our colleagues and customers.

“Being part of leading the Society forward in its 160th year, to help ensure decades more success, is both exciting and humbling.”

Yorkshire Building Society currently holds assets of £62.2 billion and serves almost 3 million customers.