Nationwide appoints former Lloyds FD to board

NATIONWIDE BUILDING SOCIETY has recruited the former finance director of Lloyds Banking Group to its board a week after it announced that chief executive Graham Beale would retire next year.

Tim Tookey will join the UK’s largest building society as a non-executive on 2 June 2015 and will chair its risk committee.

Tookey served as Lloyds’ group finance director between 2008 and 2012 and briefly served as the bank’s interim CEO in the absence of Antonio Horta-Osorio while he recovered from extreme fatigue in 2011.

He was most recently chief financial officer at Friends Life Group, the UK life assurance provider created by Clive Cowdery’s Resolution Group. From 2002 to 2006, he was FD of Prudential’s UK business and from 1996 to 2002 he held the role of group finance director at Heath Lambert Group. He qualified as a chartered accountant with KPMG. 

Nationwide also announced it had hired Mai Fyfield, chief strategy officer at Sky, to the board.

Nationwide’s chairman, Geoffrey Howe, said: “I am very pleased to welcome both Tim Tookey and Mai Fyfield to the Nationwide board. They have highly relevant experience and expertise which will be invaluable to the society. I know they both share the board’s commitment to putting the needs of our 15 million members at the forefront of our thinking at all times.”