Bowles, who has around 20 years of experience in financial services, will join from TSB later this year, where he has been interim chief risk officer since March. Prior to that, he had been the bank’s prudential risk oversight director for just over a year.

He spent over 12 years at Lloyds Banking Group in a variety of roles that include group analytics manager, head of mortgages and capital impairment and head of IFRS9 implementation. The executive left the business in January 2021 as risk director, prudential transformation.

Prior to that, Bowes spent just under 18 months at HBOS as a senior modelling and validation analyst, leaving in December 2008.

Coventry Building Society chief executive Steve Hughes says: “Richard not only has deep technical knowledge but is passionate about innovation and transformation.

“It’s really important to me that we appoint people who share our ambition but also our value set, especially in key leadership roles, and Rich has a great track record in building positive and high-performing teams. I am really excited about him joining the Society and the executive team.”