Press release

New Chair elected at Building Societies Association

Stephen Mitcham, Chief Executive of Cambridge Building Society has been elected as the new Chair of the Building Societies Association.  Stephen who has held the post of Deputy Chair since May 2017 takes over from Jonathan Westhoff, Chief Executive of the West Brom.   

At the same time, Mike Regnier, Chief Executive of Yorkshire Building Society has been elected as BSA Deputy Chair.

Commenting on his election, Stephen Mitcham said: “I am taking over as BSA Chair with a strong belief in the critical part that building societies play in today’s financial services market.  Being customer-owned we can operate differently, able to take a longer term view.  The visible effect is to add to consumer choice, allowing us to serve not only the mainstream but those customers with more complex needs who are underserved by the rest of the market.

“My 12-month tenure will see the UK leave the European Union and enter into whatever transition arrangements are eventually agreed.  As UK-domestic players, building societies are well placed to operate through the inevitable changes that will come, but the sluggish UK economy is of concern.  Our focus is to do everything possible to promote the interests of our 23 million members, savers and borrowers alike.”     

Ends

Notes to Editors:

Stephen Mitcham (54):

Appointed as Chief Executive of The Cambridge in 2007, Stephen’s ambition and focus for a sustainable business has delivered a modern vision and change at The Cambridge.  He is committed to The Cambridge as a regional building society, able to adapt to the changing needs of its members and its wider community.  In September 2017, The Cambridge became only the second building society to issue a mutual capital instrument called Core Capital Deferred Shares, over time the £15m capital raised will support additional mortgage lending.

Stephen’s career in financial services began at Lloyds Bank.  In 1987 he joined Nationwide where he spent three years as a branch manager. He joined The Cambridge in 1990. Stephen qualified as an Associate of the Institute of Bankers and went on to complete a degree in in Financial Service Management through Sheffield Hallam University.

A lifelong supporter of Leeds United, Stephen enjoys walking in the Yorkshire Dales, reflecting on current form whilst looking forward to the cricket season. 

Mike Regnier (46):

Mike was appointed as Chief Executive of The Yorkshire in 2017.  With Yorkshire being one of the larger, national building societies, Mike is focusing on transforming the business to ensure the society remains strong and sustainable in the face of ever-increasing competition by using its mutual ownership structure to its advantage.  He is committed to continuing to provide the face to face service that many of its members prefer, and is making good progress building Accord’s reputation as one of the country’s best lenders for intermediaries.

Prior to joining the Yorkshire in 2014, Mike worked for Lloyds Banking Group (LBG) and HBOS for eight years including as Products & Marketing Director for TSB, as Current Accounts and Credit Card Director for LBG and as Chairman of Cardnet Merchant Services.

Mike began his career with a decade in strategic consulting with the Boston Consulting Group and Arthur D. Little where he advised clients on a range of topics, latterly with a focus on retail and retail financial services.  After consulting he also spent three years with ASDA/WalMart.

Mike has an MEng in Engineering, Economics and Management from Oxford University and an MBA from INSEAD.  He lives with his family in Harrogate, North Yorkshire.