Julie-Ann Haines will step down as chief executive of Principality Building Society to be replaced by the chief financial officer at the largest mutual in Wales.  

The society’s board has appointed finance head Iain Mansfield (pictured) as chief executive designate from next Monday, with a date in November to be agreed on for a formal transition. 

Mansfield has been the mutual’s chief financial officer since 2022 and a member of the board since 2019.  

Haines had worked for Principality for 18 years and was appointed to the board in 2016, before leading the business in 2020.  

During her time at the helm, she steered the business through the pandemic and served on the Prime Minister’s UK Business Council. 

She leaves to take up a new role, which is yet to be announced. 

Principality chair Simon Moore says: “We are grateful for her efforts, and wish her every success in her new role, which she will commence in the middle of 2026.” 

Mansfield, before joining Principality eight years ago, was managing director at Nemo Personal Finance for a decade. He has also held senior roles at Barclays and Lloyds Bank. 

Moore adds: “It is clear that the breadth and depth of his expertise and experience are exactly what the society needs to take forward our ambitious strategy.” 

Mansfield says: “Julie-Ann leaves the society in a strong position, and I look forward to working with the Board, colleagues and Members to accelerate our transformational journey to ensure we are fit for the next generation.” 

Principality has assets of £14.1bn and has 54 branches and 16 agencies in Wales and the borders.