Next chairman of Coventry Building Society announced

Gary Hoffman, the banker behind the transformation of Northern Rock after its nationalisation, is taking over  as chairman and director of the Coventry Building Society.

Coventry-born Hoffman will join the board on 26 April 2018. He will replace Peter Ayliffe, who has been acting as interim chairman at the UK’s second biggest building society since Ian Pickering died last year. Ayliffe will resume the role of deputy chair.

The building society had mortgage loans of almost £36bn at the end of last year,  and reported pre-tax profits for 2017 of £243m.

Hoffnan is currently a director of Hastings Group Holdings, and will become non-executive chairman in May. He will also be stepping down from serving as chairman on the Board of Visa Europe.