The Dudley Building Society has announced the appointment of Peter Hubbard, the current chair of Co-op Insurance.

He replaces David Milner, who has retired after 12 years on the board, the last four as chairman.

Hubbard (pictured) is a chartered accountant by profession and has held senior executive roles at Lloyds Banking Group as managing director of e-commerce, chief executive of Axa Insurance and group chief executive of insurer, UK General Group.

Jeremy Wood, chief executive at Dudley Building Society, said: “We are delighted that Peter agreed to join us earlier this year. He takes over from David who has, as chairman for the past four years, presided over a Society which has delivered the best results in its history.

“We are grateful to David for his stewardship as he hands over during a period of huge market disruption caused by the Covid-19 pandemic. Building societies have responded well to the challenges that the coronavirus has brought to us and we are well placed to continue to provide the products our members will need during this recovery.

“We are particularly pleased to be welcoming Peter Hubbard, who brings to the Dudley a deep and fundamental grasp of modern day business practice and whose knowledge and experience will be of great value to us, as we continue to develop our proposition and strategy for the future.”

Hubbard added: “Dudley Building Society has been one of the sector’s success stories of the last 10 years and I am thrilled to be taking up the position of chair. My predecessor has helped to steer the Society to its current pre-eminent position and I know I have big boots to fill.

“I am looking forward to working closely with my fellow board members and particularly with Jeremy and his team. This will be a testing time for the finance sector and I am keen to see Dudley Building Society continue to flourish and grow.”