Wood signalled to Dudley’s board in 2020 that he wished to retire this year.

Commenting on his retirement, Wood says: “It’s been an enormous privilege and we’ve come a long way in positioning Dudley as a really credible regional society.”

James Paterson has been named as Wood’s replacement, joining the society in May and taking on his new role as chief executive in July. 

Paterson currently serves as the director of banking and marketing at Secure Trust Bank. Prior to that, he held senior roles at Coventry Building Society. 

Dudley’s chair Peter Hubbard says: “The board is grateful to Wood for what has been achieved over the last ten years in particular helping us to reach more members than ever, and in later years ensuring we have been able to provide support to members during the pandemic.”

“We remain excited about the future and in particular doing the best for our members. We are confident that Paterson will continue to help us drive the society forward,” Hubbard adds.