All-change at building society

JOHN Whayman is to retire as chief executive of the Ipswich Building Society after more than 18 years in the role, the society has announced. Mr Whayman, who will step down in May next year, after a total of more than 40 years with the society, is to be succeeded by Paul Winter, currently the society's sales and marketing director and deputy chief executive since 1988.

JOHN Whayman is to retire as chief executive of the Ipswich Building Society after more than 18 years in the role, the society has announced.

Mr Whayman, who will step down in May next year, after a total of more than 40 years with the society, is to be succeeded by Paul Winter, currently the society's sales and marketing director and deputy chief executive since 1988.

During Mr Whayman's time as chief executive, the society's assets have grown from £83million to £340million and membership has increased to more than 63,000. In 2004 he oversaw the society's move into a new head office on the edge of Ipswich.

Ahead of next year's change, Mr Winter, who joined the society from the Staffordshire Building Society in 1982, has been appointed chief executive designate with effect from October 1.

Hugh May, the society's finance director, who joined the society in 1991, having had experience in a number of Ssocieties, will take on the role of deputy chief executive.