New Chairman for Society

21 August 2004

Monmouthshire Building Society has appointed Mr John Farrow as Chairman of its Board of Directors, to succeed Mr Julian Trump who has served in the position for the past seven years.

As incoming Chairman, John Farrow has stated his intention to continue the Society’s strategy of growth, building on its reputation for providing competitive products and friendly, professional advice whilst maintaining and extending the branch and agency network throughout South Wales.

Commenting on his appointment, John Farrow said,
“Firstly, I would like to pay tribute to Julian Trump, whose leadership and dedication have contributed significantly to the Society’s success and impressive growth record which has seen its total assets more than double during his time as chairman.”

Mr Farrow continued, “I am proud to have been associated with the Monmouthshire since 1989 and to have witnessed its significant progress year on year. The Society will continue to be run in the best interests of its members. This means keeping control of costs so that we can deliver the best possible rates for savers and borrowers, whilst investing in the business to deliver a first class service for both existing and future generations. There is no doubt that by remaining a true local building society totally committed to mutuality, we are able to deliver tangible interest rate benefits to members.”

John R. Farrow FCA joined the Monmouthshire Building Society Board in 1989 and has served as Vice Chairman since 1997. He currently also serves as a member of the Newport European Partnership Board.

Born in Hereford and educated at Newport High School, he was formerly with Ernst & Young based in both London and Rome, followed by a decade in the glass and construction industries. More recently he has undertaken extensive financial restructuring projects in Russia, Eastern Europe and the Baltic States for the European Bank for Reconstruction & Development, and the EU Phare and Tacis programmes.
Julian Trump will continue to serve on the Board in the capacity of Vice Chairman.

 
 


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