DARLINGTON Building Society has announced that its new chief executive is to be former Clydesdale Bank director Colin Fyfe, who will replace David Dodd when he retires in the coming months. 

Mr Fyfe, 47, whose last position was Clydesdale Bank's director of specialised businesses and operations, has held several high profile roles during 29 years at the lender including divisional director - business and private bank, head of people and management development, and head of customer strategy and marketing.

James Ramsbotham, chairman of Darlington Building Society, said: “Colin was an outstanding candidate and is uniquely qualified to take on the role of chief executive of the only building society to be based in County Durham, the Tees Valley and North Yorkshire. 

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“His achievements as a strategic leader in the fields of finance, human resources and marketing at the very highest levels will stand him in good stead as he looks to build upon the strong foundations Darlington Building Society has established during the past 158 years. We wish him every success.”

A father-of-two, Mr Fyfe lives in Wilmslow, Cheshire, but plans to relocate his family to the North-East. Among his outside interests are working with Business In The Community (BITC) and the Prince’s Trust.  

Mr Fyfe said: “I am really looking forward to taking on the role of chief executive of such a well-run and well-renowned local building society.  Darlington Building Society is recognised way beyond its North-eastern heartland as a building society dedicated to looking after local interests.”

He added: “The experience I have gained in working for a large financial services organisation over almost 30 years will be put to good use as I embark on this new and exciting challenge. 

"I am grateful to David Dodd and his team for leaving me with such a sound platform to build upon and members of the Society can be reassured that the future of Darlington Building Society is in safe hands.”

Mr Ramsbotham paid tribute to Mr Dodd, who has been chief executive since 2009 having joined the Society in 1998. 

He added: “Members of Darlington Building Society owe David a huge debt of gratitude for leading the Society through some turbulent years, where a number of competitor building societies fell by the wayside. Thanks to David’s effective and dedicated leadership the Society is now in a strong position to move forward under Colin’s stewardship.”