Group chief executive at Skipton Building Society to depart

After almost 30 years with Skipton Building Society – 13 of which as group chief executive – David Cutter will step down from his role with effect from April 2022.

Skipton Building Society noted the decision follows a period of “considerable progress”, with an expected strong financial showing in 2021, a year which was also marked by the acquisition of Countrywide plc by Connells Ltd, creating the UK’s largest estate agency network.

The society’s Board is now initiating a process to appoint a successor.

Robert East, chairman, said: “David has led the society out of the challenges of the global financial crisis, through Covid and the transformative acquisition of Countrywide Plc by Connells to the robust financial health we enjoy today. 

“The growth in membership, savings balances and mortgage lending through David’s tenure show his focus and dedication to serving and delivering for our members.”

Cutter added: After almost 30 years with the society, and over 22 years on the Board, having completed the acquisition of Countrywide and with an expected strong financial performance in 2021 against the backdrop of the pandemic, the Board and I have agreed that I will step down from my role at the AGM.

“In the meantime, it’s business as usual as the society continues to help more people have a home, help people save for their life ahead, and support long term financial wellbeing.”

Under Cutter’s leadership the building society has seen its share price steadily build back from an all time low of 84p per share in July 2009 and closed on Friday at 202p per share.