Principality Building Society Marks Start of New Chapter with Principality 2.0
05 October, 2026
Principality Building Society Marks Start of New Chapter with Principality 2.0
Principality Building Society has launched its new strategy, Principality 2.0, bringing colleagues together from across the Society to outline its vision for the future and the journey ahead.
The strategy was introduced during events at the National Museum of Wales in Cardiff and Theatr Clwyd in Mold, giving colleagues an opportunity to hear from CEO Iain Mansfield and Principality’s Executive team.
Principality Building Society said the launch provided an opportunity to reflect on its progress, set out where the organisation is heading and bring its people together around a clear vision for the future.
During the events, colleagues explored the priorities that will guide the Society as it continues to evolve to meet the changing needs of its Members while remaining true to its purpose.
Writing about the launch, CEO Iain Mansfield described Principality 2.0 as the beginning of a new chapter for the 166-year-old Society.
“Principality Building Society has helped generations of people to save and own their own home throughout our proud 166 year history. Principality 2.0 is about building on that legacy while evolving how we serve future generations of Members,” Mansfield said.
He added:
“We’re only at the foothills of this transformation, but the energy and curiosity I’ve seen from colleagues this week gives me enormous confidence. Strategies don’t transform organisations, people do. Seeing all our colleagues together for the first time felt like an important moment.”
Peter Dockar, who started as Principality’s Chief Commercial Officer during the week of the launch, also shared further insight into the Society’s transformation plans.
Dockar said Principality is “investing record amounts to transform how we deliver our savings, mortgage and commercial lending propositions & services”, adding that there is “a lot to come over the next 18 months”.
He also highlighted the Society’s longstanding purpose of helping Members into homes, while noting the need to move forward as Members’ needs and expectations change. Dockar said the Principality 2.0 strategy was launched through face-to-face sessions with all 1,300 colleagues.
The launch brought colleagues together for the first time in two years and included panel discussions involving members of the Executive team, alongside a fireside conversation with Mansfield and Gemma Bowen.
Principality said the events also provided an opportunity for colleagues to connect, share ideas and continue conversations about what comes next for the Society.
Mansfield concluded: “This is just the beginning. Welcome to Principality 2.0!”
Read Principality Building Society’s original LinkedIn post, Iain Mansfield’s reflections on the launch and Peter Dockar’s reflections on Principality 2.0.