Swansea Building Society Announces New Chair Transition

Swansea Building Society's outgoing Chair, Ieuan Griffiths (right), with Stephen Maddock, new Chair (left).
Swansea Building Society's outgoing Chair, Ieuan Griffiths (right), with Stephen Maddock, new Chair (left).
Swansea Building Society has made a notable change in its Board leadership, with Ieuan Griffiths stepping down after six years of exemplary service as Chair and nine years on the Board. Stephen Maddock will succeed him in this pivotal role.

During his tenure, Griffiths has been instrumental in helping guide the Society through a period of sustained growth and development, leaving an indelible mark on its operations and strategic direction. His steadfast commitment and dedication to the Society’s mission have been deeply appreciated by colleagues, stakeholders, and the broader community alike.

Stepping into the role of Chair is Stephen Maddock, who brings with him a wealth of experience and expertise in finance and governance. Stephen joined the Society’s Board in May 2016 and has served with distinction ever since. His appointment as Chair, effective May 2024, underscores the Society’s commitment to maintaining the highest standards of leadership and governance.

A Chartered Accountant and a Fellow of ICAEW, Maddock’s professional journey is marked by a distinguished career in the financial sector. Beginning his career at the Swansea office of accountancy firm Deloitte Haskins & Sells, Maddock went on to join Coopers & Lybrand, now PwC, after qualifying. His career culminated in the role of Director of Financial Shared Services for Tata Steel Europe before embarking on early retirement.

In assuming the role of Chair, Maddock brings to bear a profound understanding of financial management, strategic planning, and corporate governance. His strategic vision, coupled with his deep-rooted commitment to the Society’s values, positions him as an ideal steward for the organisation as it continues its mission of serving its members and community.

Outgoing Chair, Ieuan Griffiths, said:

“It has been a privilege to serve as Chair of Swansea Building Society for the past six years. In fact, I’d have loved to have stayed longer but nine years is the maximum allowed on the Board, so it was time for me to step down. I’d like to thank my colleagues for all that they have done during my tenure, not only do they bring expertise, but they contribute – unstintingly – with their time. I’d especially like to thank Society Chief Executive, Alun Williams. Our working relationship has been uncannily good, and there is a culture in the Society that is very caring, which, I believe, underpins its success.

“I am immensely proud of all that we have achieved together during my time on the Board, and I have every confidence in Stephen’s ability to help lead the Society into its next chapter.”

New Chair, Stephen Maddock, said:

“I am honoured to take on the role of Chair at Swansea Building Society. In the six years of Ieuan’s Chair, the Society has changed and grown significantly. I now look forward to working closely with the Board, management team, and staff to build upon the strong foundation laid by my predecessor and help drive the Society forward.

“On behalf of my colleagues, Board, and the Society’s members, we would like to extend our heartfelt appreciation to Ieuan for his invaluable contributions and commitment to the Society.”

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Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.