Adrian Coles, Director-General of the Building Societies Association, is stepping down from his post later this year after 20 years in office. A process to replace him has commenced and is expected to conclude towards the end of 2013. In the meantime Adrian will remain in post until a successor can be appointed.
Commenting on the decision Mr Coles said -
"I have enjoyed, and continue to enjoy, being the BSA's Director-General, a position I hold with considerable pride. However, now is the right time for me to seek to develop my career in other ways. I have held this post for 20 years, and it is time for a change, both from my point of view and that of the Association. A new regulatory regime will be in place shortly and it is right that a new leader takes the BSA into this new age. Also, the mutual sector is recovering strongly after a difficult period in the financial and mortgage markets, giving my successor a very strong base from which to work. A strong membership, combined with the strong Secretariat that we have built up over the last few years, gives me plenty of confidence that the BSA is well placed to continue to play an influential role in the future."
Commenting on Adrian's contribution to the work of the BSA, David Webster, Chairman of the Association (and Chief Executive of the Hanley Economic Building Society), said -
"Adrian has been an outstanding ambassador for the mutual sector since joining the BSA as an Economist in 1979, and he has played a pivotal role in guiding our industry through good times and tough times. He is hugely respected, not only in the UK, but amongst financial services businesses overseas for his perceptive grasp of economic, political and regulatory issues and his ability to distil such complex topics into meaningful and impactful priorities. Adrian has shaped the BSA into a robust, professional and respected organisation. He will be a tough act to follow and we wish him every success in his future career."
Notes for Editors
1. Adrian Coles is 58, and has worked for the Association since December 1979. He became Director-General in July 1993.
2. Adrian has agreed to continue to lead the Association until a successor is appointed and can begin work. This is expected to be towards the end of 2013.
3. Details of the role and application process will be available shortly on the BSA website.
4. Contacts: Adrian Coles on 020 7520 5901, or David Webster on 01782 255101.
Policy and External Affairs Officer
Building Societies Association
6th Floor, York House
Tel: 020 7520 5904