New CEO at Beverley Building Society as Lookers Plc chief financial officer joins the board

Beverley Building Society has appointed a new chief executive.

Janet Bedford has been elevated from the deputy role, succeeding Karl Elliott who steps down for family reasons, after five years at the helm.

He has been credited with delivering a strong brand identity and financial performance during his tenure.

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Stuart Purdy, chairman, said: “Karl was a much-valued CEO and we thank him for his service and leadership of the Beverley Building Society.

“We have been fortunate to have had the service and commitment of a leader of the calibre of Karl. We understand Karl’s decision and priorities and he leaves the Beverley with our very best wishes.”

Ms Bedford joined the Beverley board in 2014 and, during her time as finance director, helped the society build its level of profitability, capital and liquidity, culminating in the 2021 performance which saw profit levels reach a decade high.

She was promoted to deputy chief executive in 2017.

Stuart Purdy, chair, and Janet Bedford, chief executive, of Beverley Building Society. (Image: Beverley Building Society)

Stuart said: “The board is delighted to have selected Janet to lead us forward in our ambitious plans. These include further strengthening our position as lender of choice for our local members in Beverley, Hull and surrounding area, and across the country, to those who are attracted to the Beverley’s outstanding service and mortgage underwriting capability. Our loyal savings members, meanwhile, value the security and service the Beverley provides.”

Janet has extensive financial services sector experience, including 12 years at the global payments provider RBS WorldPay, where she held the position of financial controller for the UK and European businesses and projects and acquisitions.

The qualified chartered accountant said she is looking forward to building on the firm foundations, by focusing on significantly expanding the Beverley’s mortgage lending, in line with its founding purpose of ‘building better futures’.

“I am really excited to take Beverley Building Society forward as its new CEO, and I am extremely passionate about continuing our team’s great work,” she said. “We intend to continue to build our reputation as an innovative mutual, offering genuinely outstanding customer service.

“We’ve come through the challenges of the pandemic with new learnings and confidence in our adaptability and resilience, thanks to our outstanding team.”

The appointment is subject to regulatory approval, having been approved at the society’s annual meeting this week.

Karl said: “I am very proud of all we have achieved in the past five years and the solid foundations we have built to enable the society to thrive in the future.

“Regretfully, I have decided that after 18 months of personal challenges, I must prioritise my family over my work for now and so I am stepping aside.

“I am hugely indebted to our board and colleagues for their support throughout my time with the society and I look forward to the Beverley’s continued success, serving its members.”

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Significant corporate experience has also been added to the Beverley Building Society boardroom with the appointment of Oliver Laird as non-executive director.

He is chief financial officer at Lookers Plc, the £4-billion turnover Altrincham-based automotive business, and will chair the society’s audit committee – an appointment also subject to regulatory approval.

Stuart said: “Oliver has extensive financial services and CFO experience and we really look forward to gaining from his knowledge and business perspective as a member of our board.”

Mr Laird has worked across energy, food, banking and insurance, with a brief stint spent with Rradar in Hull a decade ago.

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