Pheasy takes over from Mark Bogard, chief executive of the Family Building Society, who held the post for around two years.
He has worked in financial services for over three decades and has worked at Marsden Building Society since 2008.
Pheasy initially joined as operations director and was then appointed chief executive in 2011.
Pheasy said that he was delighted to take on the role of BSA chair, adding that the year ahead would see member organisations “delivering on their regulatory priorities”, including Consumer Duty and changes to the PRA Strong & Simple regime.
He continued: “In all matters impacting the mutual sector, the BSA continues to play a significant part of the stakeholder engagement.
“The boards of mutual organisations will define and deliver their own strategies, navigating their business through the individual challenges and opportunities we face, but also through common themes including digitalisation, diversity and inclusion and sustainability.”
Pheasy said that it would be interesting to see how organisations deployed their operating models, having transitioned through the pandemic to hybrid and flexible working.
“For many, trading performance has been strong, with more consideration given to the deployment of remote working and of course, colleague wellbeing,” he added.
Pheasy said that there had been changes in consumer behaviour and building societies and credit unions were “ideally placed to respond to the challenges our members face around financial resilience”.
“A challenge we do not see easing off in the short term,” he added.
Pheasy continued: “For many, there has been an increase in the adoption of digital and a higher priority attached to convenience. How we, as mutual organisations, continue to respond to these changes will be a significant aspect of how we plan for the future.
“There is an assured, yet understated confidence from mutual organisations, our heritage building consumer confidence, and an ambition that allows us to grow and remain relevant. After all, that’s what we’re good at, and I look forward to playing my part in the period ahead.”
