New Chair elected at the Building Societies Association
Rob Pheasey, Chief Executive of the Marsden Building Society, has been elected as the new Chair of the Building Societies Association (BSA). He takes up this role with immediate effect.
Rob has held the post of Deputy Chair since May 2021 and succeeds Mark Bogard, Chief Executive of the Family Building Society.
Commenting on his election, Rob Pheasey said:
“I’m delighted to be taking on the role of BSA Chair, and in a wider context, the support provided by the Association to the mutual sector.
“The year ahead will see member organisations delivering on their regulatory priorities, with milestones surrounding the FCA Consumer Duty and anticipated changes in response to the PRA Strong & Simple regime. In all matters impacting the mutual sector, the BSA continues to play a significant part of the stakeholder engagement.
“The Boards of mutual organisations will define and deliver their own strategies, navigating their business through the individual challenges and opportunities we face, but also through common themes including digitalisation, diversity & inclusion and sustainability.
“It will be interesting to see how organisations continue to deploy their operating models, having transitioned through the pandemic to hybrid and flexible working. For many, trading performance has been strong, with more consideration given to the deployment of remote working and of course, colleague well-being.
“Changes in consumer behaviour are also evident. Membership is key to the mutual business model, with building societies and credit unions ideally placed to respond to the challenges our members face around financial resilience. A challenge we do not see easing off in the short term.
“For many, there has been an increase in the adoption of digital and a higher priority attached to convenience. How we, as mutual organisations, continue to respond to these changes will be a significant aspect of how we plan for the future.
“There is an assured, yet understated confidence from mutual organisations, our heritage building consumer confidence, and an ambition that allows us to grow and remain relevant. After all, that’s what we’re good at, and I look forward to playing my part in the period ahead.”