Roy Spragg has been confirmed as chairman of Teachers’ Building Society following the mutual’s AGM.

Spragg (pictured) takes over from Kevin Richardson who has retired from the post after four years as chairman and a further six on the Society’s board of directors. He joined the Board in 2009 and has had a long career in financial services, including finance director posts at Lloyds TSB and Liverpool Victoria.

He said: “I look forward to taking on the role of Chairman of Teachers’ Building Society. I believe that Teachers’ has a unique role to play in the provision of financial products aimed primarily at teachers and Wessex residents and I am confident that we will achieve our plans for growth over the coming years.

“I take over the reins after a record year for mortgage lending and I’d like to take this opportunity to thank Kevin Richardson for his decade of service at the Society.

“The team at Teachers’ Building Society provides a level of service that has disappeared from many similar organisations and I aim to ensure that this continues as we grow.”

At the AGM, the Society’s members also elected Angela Evans, who joined Teachers’ in July 2013 to take up the post of finance and operations director, and re-elected chief executive James Bawa and non-executive director Martin Reed.