Cross joins the board following its 121st annual general meeting on 27 April.

Previously, Cross has served as chair of Mansfield Building Society. He has also held senior positions at Lloyds Banking Group.

In addition, Cross is a fellow of the Institute of Chartered Accountants and holds other non-executive posts, including at an NHS Foundation Trust and a children’s hospice.

Commenting on his new position, Cross says: “I’m delighted to be joining the Tipton as chairman and would like to thank Andrew Higgins for his commitment to the society over the last 10 years. During his tenure as chair, the society has grown by over 30%, and it was the first building society to launch a mobile app that allows customers to open, view and manage savings accounts on the go.”

Tipton chief executive officer Richard Newton adds: “Following a rigorous section process, the Board are delighted to have appointed Jeremy Cross as our new chairman. This is an exciting time to be joining the society and he brings a wealth of experience to the role.”