Wood began his career with NatWest before moving into senior roles at Nationwide Building Society. He later served as interim chief executive of One Savings Bank before being appointed chief executive of Dudley Building Society in 2012.

Since retiring from executive leadership, Wood has remained active within the sector. He is chair of the Building Societies Association Pension Scheme, chair of My Community Bank and a trustee of a special educational needs school in Birmingham.

Hanley Economic Building Society chief executive Mark Selby said: “Throughout his career, Jeremy has shown how smaller building societies can succeed by remaining clear about their purpose, staying close to their members and serving borrowers whose needs may not always fit a standard approach.

“Those principles closely align with our own values and ambitions, and I am looking forward to working with him as we continue to build on our strong foundations and support the Society’s future growth.”

Wood said: “Hanley has a strong reputation for putting customers first and maintaining a clear focus on the communities it serves. I am looking forward to joining the Board and working with colleagues across the society to further strengthen its position within the mutual sector.”