The Cumberland Building Society has announced the appointment of Des Moore as its new Chief Executive from 3 April.
Des joins The Cumberland with over 30 years experience in the banking sector, much of which has been in leadership roles across financial institutions in the Republic of Ireland and Northern Ireland. For the last 5 years he has been Managing Director at First Trust Bank which is the trading division of Allied Irish Bank’s (UK) plc’s Northern Ireland operations. Des has led the transformation of First Trust Bank from a broad-based financial services provider to a focussed regional bank concentrating on business banking, mortgage lending and personal banking.
Des succeeds Kevin Parr, who has led the business as Chief Executive since 2002.
Kevin has enjoyed 24 years with The Cumberland. He has overseen a period of significant change which has included the credit crunch of 2007/08, the subsequent recession, and the emergence of digital banking and new technologies that are reshaping the industry for both customers and financial institutions. Throughout his tenure the Society’s financial and business performance has been consistently strong, with profitability in relation to its size amongst the best in the building society sector and total assets having grown from approximately £900 million in 2002, to over £2.2 billion in 2017. A key element of its strategy has been the delivery of a wide range of services to its members, and the Cumberland is widely regarded as one of the most innovative building societies in the UK, while continuing to win national awards for its customer service. Kevin has also been instrumental in developing colleagues throughout the business who, with him, have delivered this success.
Trevor Hebdon, The Cumberland’s Chairman, said, “I would like to take this opportunity to thank Kevin for leading the business for the last 15 years. He has steered The Cumberland through some tough economic conditions, demonstrating exceptional financial acumen with a resolute commitment to our members, our region, and to upholding the values of a mutual organisation. Under his leadership, The Cumberland has grown in both size and reputation, to become one of the UK’s most respected and successful building societies.”
He continued, “Our success is the result of a clearly defined strategy, shared vision, strong culture and a deep commitment to the region. In choosing Kevin’s successor it was vitally important to appoint someone who shares the same values and understands the challenges faced by a regional organisation. Des brings relevant experience from the regional banking environment of Northern Ireland, along with deep knowledge and expertise of the industry and a strong track record of success. I am delighted to welcome Des to The Cumberland, and look forward to him leading the business into the next phase of its development.”