Yorkshire Building Society chief executive Mike Regnier quits to become new Santander boss

The society said Mr Regnier will work with Mr White, currently YBS's COO, to ensure a smooth transition before he leaves at the end of the year to take up a new role as CEO with Santander UK.

Both appointments are subject to regulatory approval.

"He has led the Society superbly through a period of significant challenge as we have addressed both the transformation to a more digitised world and the complexities of the Covid Pandemic.

"Our performance this year, including the results at the half year showing strong growth in both mortgages and savings, strong profitability and over £40m of additional value passed back to our members, is a proper reflection of how well the Executive has performed under Mike’s leadership.”

“I am pleased that Stephen White, who is currently our Chief Operating Officer, will take over as Interim CEO. Stephen has more than 25 years of experience in financial services across the UK, Ireland and Australia, and has been with the Society almost six years.

"Stephen will ensure we continue to help real life happen for our members and build on the Society’s success of over 155 years.

“We are working with external executive search partners to find a permanent successor to Mike and anticipate there will be a number of very strong candidates.”

Mr White said: “We have worked closely as a senior leadership team to develop Yorkshire Building Society’s strategy. As Interim CEO, I look forward to working with my very talented colleagues to maintain momentum, and to continue to deliver our purpose of providing real help with real life.”

Commenting on his time at Yorkshire Building Society, Mr Regnier said: "I have thoroughly enjoyed my time at Yorkshire Building Society and it has been a great privilege to have been CEO. I was very proud to lead an outstanding and talented group of colleagues who always, and especially during the pandemic, put members first.

“I feel that now is the right time for me to take on a different challenge and leave the Society in excellent shape for my successor to take the Society on the next phase of its journey.”