The appointment as chief people officer is subject to regulatory approval.

Rankin joins from Barclays, where she was a HR director for around eight years. Before that, she was the HR director for community banks and wealth at Lloyds Banking Group (LBG) for more than two years.

She was also head of HR for retail network for the UK for Standard for around six years. Prior to that, she was the HR development director at Serco Integrated Transport for over a year.

Before that, Rankin was the head of HR, operations and central functions for four years and was also a HR manager for global supply chain at Marconi for four years.

Rankin is also a board member at Smart Works in Birmingham, which looks to help women gain the confidence they need to secure employment and change their lives.

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The mutual said that she was “experienced in shaping and leading strategic people plans, covering culture change, talent and succession, reward and leadership capability”, making her a great appointment as chief people officer.

Susan Allen, chief executive of Yorkshire Building Society, said: “I am delighted Holly is joining the society and I am looking forward to her bringing her skills and experience, as well as new perspectives and insight.”

Rankin added: “I am thrilled to be joining the team at Yorkshire Building Society and I am particularly proud to be joining a mutual, purpose-led organisation focused on great customer outcomes and positive impacts in society. I’m particularly looking forward to building on the great work already underway to cultivate an ambitious, inclusive culture.”

Yorkshire Building Society recently appointed Tom Ranger as CFO, replacing Alasdair Lenman, who is retiring after seven years with the mutual.