Ian Wilson will be the new chair of the Scottish Building Society, subject to regulatory approvals.

Wilson has held senior management positions at high street banks, challenger banks and building societies. These included roles at Abbey Santander, Tesco Personal Finance and Virgin Money.

Wilson has knowledge of the growing fintech sector, working with neobanks such as Monzo, Revolut and the Copenhagen-based Kompasbank, where he has been a non-executive director for the past two years.

Paul Denton, chief executive officer at Scottish Building Society, said: “I would like to thank Raymond for his contribution over the last ten years. His presence and passion will be greatly missed, but Ian is a worthy replacement. He is a well-respected figure in the UK’s financial services sector and we are incredibly pleased to welcome him on board.

“His appointment is timely as Scottish Building Society embarks on an exciting new chapter as we shape the future of the organisation, whilst remaining true to our purpose and providing flexible, personal and reliable services and products to our valued members.”