The Teachers Building Society has announced the appointment of Julie Nicholson as its new chair of the board of directors.

She succeeds current chair, Roy Spragg, when he completes his term of office at the end of April and will be officially appointed as chair on 26 April 2018.

Nicholson (pictured) has been a non-executive director at Reliance Bank Limited for the past two and a half years and is currently deputy chair of the board and chair of the audit, risk & compliance committee.

She has over 25 years’ experience of working within financial services having qualified as a chartered accountant with KPMG and worked in their audit and risk advisory services practices prior to moving to Barclays Bank PLC where she held several executive roles in the finance and governance areas. As managing director for Barclays Governance and Control, she was responsible for the day to day oversight of the group’s internal governance and control agenda.

Simon Beresford, chief executive of the Teachers Building Society, said: “I am thrilled to be welcoming Julie as our new chair as she brings with her a wealth of relevant experience and a strong background in both executive and chair roles. In addition, she has a deep understanding of financial services, a strong empathy with our values and is committed to helping our customers save and own their own homes. I am looking forward to working closely with Julie.

“On behalf of the board, I would also like to thank Roy for his significant contribution to Teachers Building Society and invaluable support over the past nine years – we wish him well for the future.”

Nicholson added: “I am delighted to be joining at a particularly exciting time for the business and I strongly endorse the ethos shared throughout the society and its consistent focus on putting the customer at its heart. I very much look forward to working with Simon, the Board and the wider team as the organisation enters the next stage of its development.”