Solid foundations

Denton takes up top role at Scottish Building Society

Paul DentonScottish Building Society has appointed Paul Denton as chief executive, succeeding Mark Thomson who stood down after almost seven years in the job.

Mr Denton, 48, who has more than 25 years experience in the banking sector, took up the reins after formal regulatory approval.

He was previously managing director of the UK’s largest funeral business, Co-op Funeralcare Operations, where he delivered transformational change across 1,100 funeral homes.

He began his career with the Royal Bank of Scotland, graduating to head of trading for retail banking at RBS/NatWest.

With 33,000 members, the society is the world’s oldest mutual member-owned society, having celebrated its 170th birthday last year.

Mr Denton said: “I feel a great sense of excitement about returning to financial services and building on the solid foundations of Scottish Building Society. I am proud to be working for a Scottish business for Scottish people – 99% of our lending is in Scotland and we are as Scottish now as we were 170 years ago.

“We have been known as a niche lender, with products such as our retirement only mortgages, but we do want to be out there on a broader basis, not to compete with the likes of RBS and Lloyds on price, but on trust authenticity and customer service.”

Chairman Raymond Abbott, said: “Paul will be an excellent asset and his knowledge and extensive skill-set will mean he is able to build solid relationships with our stakeholders.”

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