Big industry name will step down at AGM
Dudley Building Society has announced that Jeremy Wood (pictured) will be stepping down as chief executive officer at its annual general meeting this year.
Two years ago, Wood expressed his intention to Dudley’s board that he wished to retire in 2022.
Wood has been at the helm at Dudley for nearly a decade. Prior to this, he was also chief executive at OneSavings Bank, director at C2 Partnership, and held various roles at Nationwide Building Society for almost 24 years.
“It’s been an enormous privilege and we’ve come a long way in positioning Dudley as a really credible regional society,” he said, commenting on his retirement.
Wood will be replaced by James Paterson, who will join the building society in May and take over in July, subject to regulatory approval.
Paterson is currently the director of banking and marketing at Secure Trust Bank, prior to which, he held senior roles at Coventry Building Society.
Dudley said that throughout the recruitment process, Paterson demonstrated a clear understanding of all the qualities required of a chief executive and a desire to build on the building society’s position.
Peter Hubbard, chair at Dudley Building Society, said the board was grateful to Wood for what had been achieved over the last 10 years and, at the same time, remained excited about the future with Paterson as new CEO.
“Jeremy helped us reach more members than ever, and, in later years, ensured we have been able to provide support to members during the pandemic. We are confident that James will continue to help us drive the Society forward,” Hubbard said.
