Friday, 11 May 2012


At this weeks Building Societies Association (BSA) Annual Conference I was elected BSA Chairman by my Chief Executive peers in our sector. As I previously held this post in 2010/11 I've interpreted my re-election as a show of faith rather than a request to clear up the mess I left behind last time! Actually I'm thrilled and feel very privileged to represent the mutual sector in this way, particularly at such a time of regulatory upheaval and market disorientation. Our agenda looks pretty crammed for the next 12 months and of course the housing market remains subdued as a result of macro-economic constraints, notably in relation to funding and the uncertainty in the eurozone.

The BSA has a talented team in it's London secretariat and they do a superb job for building societies across the country in interpreting legislative and regulatory changes and in reinforcing the message that the UK financial services marketplace needs the mutual sector . We provide a clear alternative to the PLC banks and genuine diversity in the core markets of savings and mortgages and of course our member ownership model helps us get closer to our customer base. Over the next 12 months I hope to assist the BSA in sharpening the case for mutuals by making mutuality meaningful in a contemporary sense.

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