Suffolk Building Society is welcoming Peter Elcock as its new chairman, succeeding Alan Harris who is retiring in December.

The official handover will take place on 22 December 2022.

Elcock (pictured) has worked in the financial services industry for over 40 years and joined the board at Suffolk Building Society in 2015 as non-executive director.

Previously, he held roles at Barclays, Coventry Building Society, Charter Court Financial Services Group plc (CCFS), and One Savings Bank. He also founded Cornhill Consulting in 2006, providing specialist risk consultancy to building societies and banks.

Richard Norrington, CEO, Suffolk Building Society, said: “Not only does Peter have a deep understanding of risk, regulation, and compliance but culturally he is also the right person to take the Society forward. He is passionate about the mutual model, its values, and the safety and security it brings to members.

“The Society is hugely grateful to Alan for his outstanding work over the last decade. He has supported the Society in navigating numerous events including the Coronavirus pandemic and, most recently, the Society’s successful rebrand. We wish him a very happy and relaxing retirement.”

Elcock added: “I am honoured by the confidence the Board of Directors has placed in me. I would like to thank Alan for his support and collaboration during this well-prepared transition and I look forward to working closely with the Board and the executive management team in tackling the current challenges of our times and steering the Society forward for the benefit of our members.”