Source - RNS
RNS Number : 4630I
Principality Building Society
31 August 2016



Principality Group Chief Executive to step down next year

Principality Building Society has today announced that their Group Chief Executive is to step down next year. Graeme Yorston has been with Principality for what will be 11 years, and at the point of stepping down, CEO for nearly 5 years.


Graeme said:  "This had been one of the hardest decisions I have ever made as my passion for this great business is as strong as the day I joined, if not stronger. However, after almost 43 years of work, I think it is now time to move to the next phase of my life spending more time with my wonderful wife and growing family, including 3 grandchildren.

"I will be remaining as CEO until a successor has been found and so until that time it's very much business as usual."


The Chairman of Principality, Laurie Adams, said: "I am very sorry that Graeme has decided to step down but understand his reasons for doing so. Graeme has led this business through a hugely successful period and exemplifies the mutual sector values. He will be a difficult act to follow. A search for his successor has commenced.


"I am extremely grateful for all that he has done for this business over the past 10 years and more recently as CEO. Under his leadership the society has grown to over £8bn in assets, delivered consistently strong financial results and excellent customer service for the benefit of all our members."



Notes to Editors

·      Formed in 1860, Principality is Wales's largest building society.

·      The Society is committed to supporting the communities of Wales, with 53 branches and 18 agencies in Wales and the borders.

·      Principality is the 6th largest building society in the UK.

·      The Society has assets of over £8 billion.

·      Principality is committed to remaining a mutual organisation.





For more information please contact:


Jamie Pike,

Corporate Affairs Manager, Principality Building Society

[email protected]

 02920 773812


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