Principality Building Society appoints Tim Blackwell as CFO and Graeme Forrester as CRO

Principality Building Society has announced a number of key appointments to strengthen its Executive Team, following the appointment of Iain Mansfield as Chief Executive Officer in November.

Wales’ largest mutual said the appointments form part of its plans to deliver an ambitious and transformational strategy.

As part of the update, the Society has appointed Tim Blackwell as Chief Financial Officer and Graeme Forrester as Chief Risk Officer. Principality said both have played an important role in setting into action a transformative agenda for the Society over the last quarter.

Tim Blackwell has served as Interim Chief Financial Officer since Iain Mansfield’s appointment as CEO, helping to drive a commercial culture and agenda for colleagues.

His career spans more than 30 years in financial services, including advisory roles at leading professional services firms and finance positions across a range of banking institutions. Most recently, he served as Chief Financial Officer at Hampshire Trust Bank.

As part of his new role, Tim will also join Principality’s Board.

Graeme Forrester has been acting as Interim Chief Risk Officer, with Principality saying his appointment provides leadership and continuity across the Society’s risk framework. The Society added that he has been driving a modern, risk-aware culture to support its commercial and transformation agenda.

He joined Principality from Coventry Building Society, where he served as Interim Chief Risk Officer following the proposed acquisition of the Co-operative Bank. Prior to that, Graeme built decades of experience across retail, corporate and investment banking.

Iain Mansfield, CEO of Principality Building Society, said:

“I am delighted to welcome Tim and Graeme to the Society. We have attracted top talent to transform our business for the next generation of Members. It is essential that we have highly relevant savings and lending experience around our Board and in our Executive team, focused on the markets we operate in but also with recent experience of strategic transformation.”

Tim Blackwell, CFO of Principality Building Society, said:

“I’m delighted to accept the position at Wales’ largest mutual at such a pivotal point in its history. Principality is well positioned for the future, and I look forward to continuing to strengthen our financial performance and support the Society’s long-term success.”

Graeme Forrester, CRO of Principality Building Society, said:

“From the moment I joined Principality, I could tell it was a business on the cusp of a transformational journey to meet Members where they are – whether in branch or online. I’m thrilled to be joining, and I look forward to continuing to strengthen our risk framework and support the Society as it delivers its strategy for Members.”