Alan Jarman, the former CEO of HSBC in Wales and Poland, has joined Wales’ largest building society as group chief operating officer.

Originally from Montgomeryshire, Alan joined Principality Building Society, which has branches throughout Gwent, this month, after a 28-year career with HSBC Group in a number of senior roles spanning 10 different markets in Europe and the Middle East.

In his new role, Alan will take executive responsibility for Principality commercial, human resources, procurement, legal and secretariat services, premises and surveyors and replaces Guy Thomas, who has taken over as chief executive officer of Principality subsidiary Nemo.

Alan said: “I am delighted to be joining Principality, a business with such a strong Welsh brand and community ethos. The society’s independent mutual model has stood it in good stead throughout turbulent economic times and it is in a strong financial position, having grown its assets to £7bn, to become the sixth largest building society in the UK. I look forward working in this progressive business and to the challenge of creating further value for Principality members in the future.”

Graeme Yorston, Principality Group’s chief executive, said: “Principality has at its roots a traditional, prudent ethos that is focussed on putting its members and customers at the heart of the business. Over the last decade the society has made astounding progress, modernising the way we do business to improve our customer experience and offer the level of service that people demand, whilst maintaining the financial security necessary to deliver this."