Brendan McCafferty Appointed as New Chair of Leeds Building Society
In a significant development for Leeds Building Society, Brendan McCafferty has been appointed as the new Chair, effective March 1, 2025, pending regulatory approval. He will succeed Iain Cornish, who has chosen not to pursue a third term after his noteworthy tenure since 2019.
A Wealth of Experience
Brendan McCafferty is a seasoned professional, bringing over three decades of experience in the financial services industry to his new role. Prior to this position, he has served as Non-Executive Director at Leeds Building Society since September. His impressive resume includes leadership roles such as Chair of Nest Corporation and CEO at AXA Insurance UK plc, showcasing his strong background in the financial sector.
Commitment to Success
Upon his appointment, McCafferty expressed his gratitude for the opportunity and emphasized his enthusiasm for collaborating with the Board, executive team, and colleagues. He aims to leverage his extensive experience to help the Society continue its remarkable journey of success.
Recognizing Past Contributions
The current Chief Executive, Richard Fearon, lauded McCafferty's extensive leadership skills, noting how they will be invaluable as the Society approaches its 150th anniversary. Fearon also paid tribute to Iain Cornish, acknowledging his impactful contributions during challenging times such as the Covid-19 pandemic, which significantly influenced the Society's trajectory and growth.
A Look at Leeds Building Society
Leeds Building Society stands as the fifth largest building society in the UK, boasting assets totaling £30 billion and a membership base exceeding 945,300 as of mid-2024. It is resolutely committed to its foundational mission since 1875: to assist individuals in saving and owning homes.
Community and Environmental Focus
The Society employs over 1,800 staff members, headquartered in Leeds, with customer service operations in Newcastle and a network of 50 branches throughout the region. As part of its mission, Leeds Building Society is dedicated to supporting homeownership and helping members achieve their financial aspirations.
Commitment to Social Responsibility
Leeds Building Society has received recognition for its dedication to shared ownership mortgages and exceptional service for first-time buyers. The Society actively follows its 'Leading With Purpose' approach, which aligns with its broader social and environmental responsibilities. This includes a bold initiative to reduce emissions by 60% by 2030, reflecting a commitment to sustainability and community welfare.
Moving Forward
The transition in leadership signifies a renewed focus on innovation and member engagement, ensuring that Leeds Building Society remains at the forefront of the industry. With McCafferty's wealth of experience, the Society is poised for continued growth, further enhancing its stature in the competitive financial services landscape.
Frequently Asked Questions
Who is Brendan McCafferty?
Brendan McCafferty is the newly appointed Chair of Leeds Building Society, with extensive experience in the financial services sector.
When will McCafferty officially take over as Chair?
He is set to officially take over the position on March 1, 2025, pending regulatory approval.
What are some of McCafferty's previous roles?
McCafferty has served as CEO of AXA Insurance UK and Chair of Nest Corporation, among other roles.
What is the mission of Leeds Building Society?
The Society aims to help individuals save and own homes, staying true to its founding principles since 1875.
How committed is Leeds Building Society to sustainability?
The Society has ambitious goals to reduce its emissions by 60% by 2030 as part of its social and environmental commitment.
