TENBY born Peter Griffiths, chief executive of Principality Building Society, has been elected chairman of the Building Societies Association (BSA) for 2011/12 - which represents mutual lenders and deposit takers in the UK, including all the UK's building societies.  

He replaces David Webster, chief executive of Hanley Economic Building Society, who has held the post for the past year.

The news was announced last week at the BSA's annual conference, this year held in Birmingham. Over 500 senior executives and directors from the UK's building societies and mutual lenders, insurers, professional advisers and others were in attendance at the event.

Commenting on his election, Peter Griffiths, said: "I firmly believe that the mutual model offers choice, diversity, customer experience, efficiency and democracy and that it is in the best interests of consumers' financial wellbeing to have a vibrant and strong mutual sector. I am privileged to this year take the position of chairman of the BSA and I will continue to promote fair choice and competition in the market."

David Stewart, chief executive of Coventry Building Society, has taken over as BSA deputy chairman from Peter Griffiths.