The Exeter has appointed Suzanne Clark and Kelvin Malayapillay as non-executive directors (NEDs) to its board.
Their appointments coincide with long serving senior independent non-executive director David Brand stepping down from his role having been with the mutual since 2014.
Clark helped support the Bank of England during the 2008-09 financial crisis and has also held chief internal auditor roles at Yorkshire Building Society and investment bank Peel Hunt, as well as senior roles at Lloyds Banking Group and RBS.
She joins the board having gained audit committee chairwoman experience from her roles at HBL Bank UK and Leeds Teaching Hospitals NHS Trust, where she helped guide the organisation through the pandemic.
Her appointment is subject to regulatory approval.
Malayapillay has spent more than 20 years in the personal finance and insurance sectors, including as strategy director for retail banking and consumer finance at Lloyds Banking Group, group strategy and corporate development director at LV= where he was responsible for overall strategy and corporate development, and as director of personal loans at Capital One Bank.
Currently, Malayapillay is an independent strategy adviser and investor to clients in consumer and insurer finance and, alongside his role with The Exeter, holds non-executive director board positions with Tune Protect Group, Tune Protect EMEIA, and the Teachers Building Society.
Clark said she was “thrilled” to join The Exeter with its strategy to grow the business.
Malayapillay added: “Having spent several years supporting mutual financial service firms I believe that they not only have a significant role to play in the diversity of financial service offerings but also have values aligned with some of those emerging in society today.”
Peter Hubbard, chairman at The Exeter, added: “We are delighted that Suzanne and Kelvin are joining our board here at The Exeter.
“They will bring a wealth of experience and help us deliver even more for our members over the coming years as we strive to provide peace of mind to more people.
“At the same time, we are also sad that after such a long time, David Brand is stepping down from the board.
“During his tenure, the business has grown substantially, and his calm and experienced input will be missed by everyone. We wish him well for the future.”