Both have been in their positions on an interim basis, and the mutual said they had played an “important role” in setting its transformation agenda over the last quarter.
Blackwell took on the role in November, when Iain Mansfield became CEO. He has worked in financial services for over 30 years across a number of banking firms, most recently as CFO at Hampshire Trust Bank (HTB).
Blackwell will also join the mutual’s board.
Forrestor has been leading Principality Building Society’s risk framework as interim chief risk officer, supporting its commercial and transformation agenda.
He was previously at Coventry Building Society as interim chief risk officer after the Co-operative Bank acquisition. Forrestor has experience across retail, corporate and investment banking.
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Mansfield said: “I am delighted to welcome Tim and Graeme to the society. We have attracted top talent to transform our business for the next generation of members.
“It is essential that we have highly relevant savings and lending experience around our board and in our executive team, focused on the markets we operate in but also with recent experience of strategic transformation.”
Blackwell (pictured, left) said he was “delighted” to accept the role at a pivotal point in the mutual’s history.
“Principality is well-positioned for the future, and I look forward to continuing to strengthen our financial performance and support the society’s long-term success,” he added.
Forrestor (pictured, right) said since joining Principality Building Society, he could tell it was a business “on the cusp of a transformational journey to meet members where they are – whether in branch or online”.
He added: “I’m thrilled to be joining, and I look forward to continuing to strengthen our risk framework and support the society as it delivers its strategy for members.”
The mutual reported its residential mortgage lending rose to £11.1bn last year.
