Manchester Building Society announces board changes

Manchester Building Society Group today announced the appointment of two directors to its board with effect from July 1.

Both appointments are subject to regulatory approval.

Janice Lincoln is appointed as a non-executive director and will take over as chairman of the audit committee from Ian Dewar.

Since May 2017, she has held the non-board role of interim finance director and she is also a non-executive director of Penrith Building Society.

Previously, Ms Lincoln was the finance director of Darlington Building Society until her retirement in May 2015.

Mark Winterbottom has been appointed as finance director.

He joined the Society in January 2017 and is currently the deputy finance director.

Mr Winterbottom is a chartered accountant who has spent the past 11 years within the financial services sector.

In May Manchester Building Society was told it would have to pay almost £2m in court costs in relation to a case involving accountancy firm Grant Thornton.

The building society was awarded damages of £335,727 following the original High Court Case, but was warned to expect a bill for court costs.

On May 23, it was announced the building society will have to pay costs of £1.97m.

In an earlier statement it declared: “The Society continues to discuss and consult with the PRA (Prudential Regulation Authority) on the future strategic and capital position of the Society.

“The outcome and timing of the regulatory process is uncertain. There continues to be material uncertainty regarding the Society’s long term prospects.”

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