Winter (pictured) said he has earmarked 2017 as his departure date to coincide with his 10th year as chief executive which he said ‘was the maximum amount of time anyone should serve as CEO of any organisation’.
He said: “I like to think that since April 2007, when I became CEO, the society has achieved a great deal maintaining a healthy and profitable business in the face of regulatory change standing up for mortgage misfits and being true to our role as a mutual.
“There is still work to do, however, and it will be business as usual before I hang up my boots.”
Ipswich Building Society began its mortgage misfit campaign shortly after the launch of the Mortgage Market Review (MMR) in April last year. The building society decided to use the transitional arrangements provided by the Financial Conduct Authority, ignored by most lenders, to provide mortgages for borrowers looking to remortgage on a like-for-like basis. The transitional rules were created to help existing credit-worthy borrowers who may have been barred from switching products because of tougher lending criteria under the MMR, to secure a competitive deal.
Sarah Evans, chairman at Ipswich Building Society, said: “Paul will be a hard act to follow but we are confident that launching the search now for our new CEO will allow for a seamless transition and allow us time to find the right successor.”
