Company Announcements

Media release

Principality appoints highly experienced finance leader to its Board

Principality Building Society has appointed experienced financial leader Shimi Shah  to be a non-executive director of its Board.

Shimi started out in project finance covering Africa and Asia, with Citigroup, and then went onto spend over 20 years in venture capital and private equity managing and investing assets over $1bn in the UK, US and the Middle East.

She has chaired and served on a large number of boards in diverse industry sectors, including The Royal Mint based in Wales. Shimi was also involved from an early stage on the board of BBOXX that has now powered more than 300,000 homes in East Africa providing more than 1.5m people with energy.

Sally Jones-Evans, Chair of the Board at Principality Building Society, said: "Shimi has outstanding experience and is an exciting addition to the Board of Principality. As we look to become a more diverse and inclusive organisation, Shimi brings a wealth of expertise in this area."

Shimi said: "It is a privilege to join Principality on its journey to be a more purposeful and inclusive organisation for its members across Wales and the UK. I look forward to helping with the continued success of growing the business and making a positive impact for our communities."

Principality said farewell to non-executive director Derek Howell, who left the Board after serving for nine years.

Sally Jones-Evans said: "We would like to thank Derek for all his hard work as a valued member of the Board at Principality and wish him all the best for the future."

ENDS

·      Formed in 1860, Principality is Wales's largest building society.

·      The Society is committed to supporting the communities of Wales, with 53 branches and 14 agencies in Wales and the borders.

·      Principality is the 6th largest building society in the UK.

·      The Society has assets of over £11.5bn

·      www.principality.co.uk