Hinckley & Rugby Building Society has appointed Barry Carter (pictured) as the mutual’s new chief executive officer, effective from 2nd January 2024.
The society confirmed that current CEO, Colin Fyfe, is stepping down after five years in the role.
Carter is currently the society’s chief operating officer, a role he has held since July 2022.
He has more than 21 years of experience in financial services.
Prior to joining Hinckley & Rugby as COO in July 2022, he was COO at HSBC Private Bank.
He said: “As COO I have been working very closely with Colin Fyfe for the last 18 months.
“We have shared a vision and have developed the society’s strategy together, enjoying a partnership with the same synergy that a chair and vice-chair would.
“Consequently, this feels like a very smooth and natural transition.
“In planning for this change, I have sharpened my focus on developing a truly customer-centric organisation.
“I have strong plans for growth, both in our business and in our people, and a strong desire to make us the most efficient and effective organisation that we can possibly be.
“That’s something I’m very passionate about.”
He added: “During the last 18 months, I have come to understand the beating heart of the Society and its unique personality.
“I believe that my strong and highly participative style of leadership will continue to benefit the society at every level, and that I will lead us into an even more prosperous future.”
Fyfe will begin his new role as CEO of Unity Trust Bank in 2024.
He said: “I have thoroughly enjoyed my five years at Hinckley & Rugby, and I feel that’s about the ideal period for a chief executive.
“My plan was to make a big difference, and then hand over the reins to someone who would take the Society to the next level, and Barry is the right person to do that.”
Colin Franklin, chair of the board, added: “Colin leaves us in fantastic shape and with a great team of people in place, and we are incredibly grateful for all the good things that he has achieved.
“In passing the reins to Barry, he is handing over to someone who has already proved to be an effective leader, and who is clearly passionate about our society and its members.”
Robin Fieth, chief executive of the Building Societies Association (BSA), said: “On behalf of the BSA, I would like to thank Colin for the huge support he has shown the BSA during his time at Hinckley & Rugby.
“Colin has been a great champion for the mutual sector and has been instrumental in achieving positive change for building societies, their employees, and local communities.
“During his time in the sector, Colin has been a valued member of the BSA council and a committed Chair of the BSA’s green finance taskforce, where he has worked tirelessly towards the goal of improving the energy efficiency of the UK’s housing stock.
“We wish him every success in his next role and look forward to working with Barry Carter.”
