The Nottingham Building Society has announced Anthony Murphy as its new chief financial officer (CFO), subject to regulatory approval.

Murphy is set to join the Society in March 2023 to lead the finance team and continue the Society’s financial performance and drive strategic growth.

Murphy joins the Society from digital challenger bank, Tandem, where he had been CFO since January 2019. During his time at Tandem, Murphy played a pivotal role as it navigated through a strategic review, migrated to a new core banking platform, concluded a number of capital raises, merger and acquisitions activities and significantly grew its deposit offering, all of which culminated in the Group achieving profitability in Q1 2022.

Prior to his most recent role, Murphy worked in the United Arab Emirates as CFO for a listed regional bank before returning to the UK to join Tandem. He has also held a number of senior finance and strategy roles with Lloyds Banking Group, including as finance director of its Middle East business based in Dubai where he supported its sale to HSBC.

Murphy will ensure a smooth transition by working closely alongside Paul Astruc, who served as CFO and board member for the last two years, maintaining a stable financial performance and leading key elements of the Society’s technology strategy. Astruc is retiring to pursue a non-executive career and will leave the Society on 6 April.

Murphy said: “This is a great time to be joining the Nottingham as it emerges from a thorough and exciting strategic review process, with an eye on the future. I have been hugely impressed by the vision for the Society and look forward to meeting more of the team and continuing the Nottingham’s journey.”

Sue Hayes, the Nottingham’s CEO, added: “I’m delighted that Anthony is joining the Nottingham. His wealth of experience means he brings both solid foundations and genuinely innovative thinking to us at this exciting time as we build for the future. Anthony will be a key stakeholder in helping forecast and shape our strategic roadmap to deliver our purpose. As we welcome Anthony, I would also like to thank Paul Astruc for the integral role he has played navigating our strategic review process as CFO over the last two years.”