The chief executive of Tipton and Coseley Building Society Richard Newton will step down from his role at the end of the year.

The Society confirmed that Newton will be leaving after 10 years at the helm. He has spent his working life with the Society and has given 32 years total service to the firm.

In June, it was announced that Newton will leave his role at the end of the year.

He will be succeeded by Adam Evetts who is currently the Society’s risk & compliance director.

Evetts joined the Society in 2020 and has worked within the building society sector for over 27 years including at two top-ten societies.

He has significant expertise in all areas of risk management, a strong commercial instinct, and the ability to develop, lead and manage teams successfully.

Commenting on his new role, Evetts said: “It’s an honour and privilege to be appointed to succeed Richard as Chief Executive and I’m thrilled to have the opportunity to be leading the Society at such an exciting time. The mutual model is as relevant now as it has ever been in our 122-year history and I’m committed to making sure we continue to focus on providing value to our members and supporting our local communities.”