Cumberland makes key board appointment

Published on
10 July 2024

The Cumberland Building Society has strengthened its board with the appointment of Richard Pike as a non-executive director.

He brings extensive knowledge of the financial services sector drawn from a varied international career of more than 30 years in corporate and entrepreneurial environments.

He held senior leadership roles at organisations such as Permanent TSB in Ireland, Governor Software, and the National and Cybersecurity Society in the US, has worked with Starling Bank and JP Morgan, is a senior consultant for MyComplianceOffice Ltd and a lecturer for The Institute of Banking. Richard has recently been announced as chair at insurance company FBD Insurance PLC.

His areas of expertise include strategy, technology, innovation and risk management, and the society sees his appointment as reinforcing its commitment to excellence in governance.

Richard said: “I am honoured to join the board of The Cumberland at such an exciting and dynamic time for the business.

“I look forward to contributing to The Cumberland’s continued success and to working with my fellow board members to uphold the highest standards of corporate governance to continue to provide a ‘kinder banking’ experience for customers.”

Jackie Arnold, Non-Executive Director and Chair Elect at The Cumberland, believes the appointment will reap benefits for the Society.

She said: “Attracting Richard Pike to The Cumberland is not only testament to the strength of our board but also our values and purpose.

“His deep expertise in finance and leadership will be instrumental as we look to the future and strive to deliver exceptional value in ‘kinder banking’ to our customers.

“Richard’s strategic insights and commitment to best practices in corporate governance align perfectly with how we want to drive business forward.”

He joins fellow board members Jackie Arnold, Des Moore, Richard Ellison, Kelli Fairbrother, Vicky Bruce, Mark Stanger, Cameron Marr and Anna Barsby, who are all committed to delivering The Cumberland’s ‘kinder banking’ ethos.

The Society recently announced that Jackie Arnold will become the new chair of the board, the first woman to hold the post in in its 174-year history.

She succeeds John Hooper, who is stepping down at the society’s annual general meeting, on July 22, after five years in the role and nearly nine years as a non-executive director.

The Cumberland, based in Carlisle, is Cumbria’s largest financial institution with assets of £3.2bn and mortgage lending of £2.59bn in the year to March.