Chief executive of the Scottish Building Society Mark Thomson is to step down after almost seven years in office.
Mr Thomson has worked in the financial services industry for more than 35 years and said he was stepping down to pursue other interests and spend more time with his family.
He has agreed to stay on until the summer, until the lender has found a replacement.
Under Mr Thomson's leadership the building society has grown its mortgage balances by 16 per cent to a record £326m and launched an online savings product.
In July this year the building society launched a retirement interest-only mortgage available to homeowners in Scotland aged 60 and above.
Mr Thomson was also instrumental in embedding the society’s loyalty promises programme, which included a commitment to treat all members as individuals throughout their relationship with the lender.
He said: "I am sad to be leaving such a great organisation and very much enjoyed my time here; however I am delighted that 2018 has been another successful year for the society, which has also been our 170th anniversary."
Chairman Raymond Abbott said: "The board was disappointed to hear of Mark’s decision to step down from the role of chief executive.
"We are pleased that he has agreed to stay on until we recruit his successor, which we hope will be sometime in summer 2019. We wish him all the very best for the future."
carmen.reichman@ft.com
