Keith Bedell-Pearce and Gordon Horsfield

NORWICH and Peterborough Building Society's (N&P) chairman has stepped down after eight years. Keith Bedell-Pearce, a solicitor who had served for eight years, retired at the conclusion of the society's annual general meeting, which was held in Peterborough.

NORWICH and Peterborough Building Society's (N&P) chairman has stepped down after eight years. Keith Bedell-Pearce, a solicitor who had served for eight years, retired at the conclusion of the society's annual general meeting, which was held in Peterborough.

He is succeeded by Gordon Horsfield, who joined N&P's board three years ago as a non-executive director and chairman of the Society's audit committee.

The N&P said the changes were part of the board's “normal rotation”.

Mr Bedell-Pearce said: “I have very much enjoyed contributing to the society's growth and success over the last eight years. I know that as a mutual, putting its members at the heart of everything it does, N&P today enjoys a relationship with them based upon a shared trust, and a common belief in the value of good customer service, whether provided on the web, through our contact centre, or face to face in our branches.

“Notwithstanding the recent global turbulence in financial markets, which has buffeted the whole sector, I am pleased to be leaving N&P with good liquidity, low credit losses and underlying strength.”

Mr Horsfield said: “N&P members, staff and management and the board owe Keith a huge debt of gratitude for his careful, thoughtful and far-sighted chairmanship of the society through a period of significant change, especially during the last 18 months.

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“Whilst rightly addressing the wider impacts of the credit crunch on the sector and society as a whole, the board under Keith's leadership has not lost sight of our responsibilities as a mutual to individual members. Helping them to keep on top of their money now and in the future will be the basis of our offering and continued success.

“I am delighted to have been asked to take on the chairmanship of N&P and I look forward to meeting as many members as I can face to face at our branches and at members meetings.”