Griffiths will take up the position in June. He was most recently head of retail banking at Triodos Bank for nearly three years, prior to which he was director of sales and service at the RAC for around two years.
He also spent more than 11 years at HSBC Retail Banking and Wealth Management in various senior roles including performance director.
Ellis announced he would step down from his role as the chief exec earlier this year, having spent 27 years at the helm, during which he oversaw an assets increase from £18m to £226m at the end of 2020.
According to Ecology BS, Griffiths joins at a time of “growth”, with its gross mortgage lending for 2021 growing by 77 per cent year-on-year to £69.4m.
Ecology reported seeing further demand for its sustainable lending, which is funded by members’ savings and helps combat climate change.
Louise Pryor, the mutual’s chair designate and leader of the selection process, said that the board was “delighted” that Griffiths would be joining the firm.
She added: “Following a robust and rigorous selection process, Gareth emerged as the outstanding candidate to lead the society, demonstrating a deep commitment to ethical finance and ensuring money has a positive impact on people and planet, combined with significant banking experience.”
Pryor continued that Griffiths has joined a society that is in “excellent health” due to the “outstanding contribution” made by Ellis and the team.
She said that she is looking forward to working with Griffiths to build on the mutual’s performance “to accelerate our mission to build a greener society while enhancing the services we provide to our members.”
Griffiths said it was an “honour” to join the mutual, pointing to its mission to improve natural resource use and reverse environmental degradation.
“Forty years on, Ecology’s mission has never been more relevant, with the need to address the climate crisis, deepening financial inequalities and transforming the UK’s housing stock at the heart of the sustainability challenge,” he said.
“The fight to mitigate these issues will define the quality of life that we can all hope for in the years to come. My aim is that Ecology plays an even greater part in creating a better future over this critical decade.”
He added that he would be pushing for change to a “broken financial system” which had invested £150bn into fossil fuels since the 2015 Paris Climate Accord. He continued that he would also support the Ecology BS team to maintain their good service levels and grow its membership.
