Her appointment will take effect following the building society’s annual general meeting next month
The Cumberland Building Society has announced that Jackie Arnold (pictured) will become the new chair of its board, marking the first time a woman has held this position in the building society’s history.
Arnold brings over 40 years of experience in business and financial management, including being a qualified accountant and an honorary fellow of the University of Cumbria. She has been with The Cumberland as a non-executive director since 2018 and has chaired the people, remuneration and culture committee since 2019.
Her career also includes roles such as head of strategy at BAE Systems and vice chair of Cumbria’s Local Enterprise Partnership, where she led the investment panel overseeing £200 million in regional projects.
In 2016, Arnold was awarded an MBE for services to the Cumbrian economy, highlighting her strong ties to the area.
We’re thrilled that we’re set to welcome Jackie Arnold as the new chair of the board - marking a historic milestone as the first woman to hold this position. ✨
— The Cumberland (@CumberlandBS) June 5, 2024
Read more here. 👇https://t.co/0j7NmVYUu6 pic.twitter.com/YWGU9iKGoB
“As a passionate advocate for Cumbria, I’m delighted to have the opportunity to step into the role of chair of the Cumberland board,” Arnold said. “I’ve enjoyed my time to date as a non-executive director, and I’m really looking forward to this next chapter. I’ll be proud to work alongside the talented people at the Cumberland, and on its board, to lead the society through the coming years.”
Arnold’s appointment will take effect following the mutual’s annual general meeting in July. She will succeed John Hooper, who is stepping down as chair after five years in the role and nearly nine years as a non-executive director.
“It has been an honour and a privilege to steward an organisation with such a strong purpose and rich history through a period when it has set course to a sustainable future, enabling it to continue to be a key provider of financial services to the people of Cumbria, southern Scotland and surrounding areas,” Hooper said.
Meanwhile, the building society has also announced that Eric Gunn is retiring from his role as non-executive director, chair of the board risk committee, and senior independent director after eight years.
Joining the board as a non-executive director and chair of the board risk committee is Cameron Marr (pictured right), who brings 40 years of banking and financial services experience to the mutual, which recently announced strong growth, driven by increased mortgage lending.
Marr said that The Cumberland’s ‘kinder banking’ approach and culture were key reasons for his decision to join.
“There is an overt commitment to its community and the collective desire to provide the best it can to all of its customers,” he added. “It’s embedded in the culture, and in a way, it’s more than kindness – it’s about respect and being there for what people need. The Cumberland demonstrates values that align strongly with where I think banking should be.”
Des Moore, chief executive of The Cumberland, expressed gratitude to those leaving and optimism for the future.
“We are deeply thankful to John and Eric for their extraordinary service and dedication to The Cumberland,” Moore said. “Their leadership has been pivotal in shaping our company’s direction and success. We would also like to warmly welcome Jackie and Cameron to their positions and look forward to their contributions in driving the company forward.”
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