Nottingham Building Society names CTO
0
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Russ initially joined the 176-year-old mutual in March 2025 as a strategic advisor in an interim capacity from Shawbrook Bank, a specialist bank where he spearheaded a comprehensive multi-year digital transformation, from creating the strategy and its roadmap to delivering its execution.
He replaces Paul Howley, who departs in July following three successful years at the organisation following his appointment as the organisation's first ever Chief Technology and Transformation Officer in 2022.
Russ brings 34 years of experience in leading digital transformations to drive business growth, having also held senior leadership positions at Cofunds, Legal & General, Aegon, and WorldRemit. He will now be responsible for the delivery of Nottingham Building Society's core banking and mortgage transformation strategies.
Speaking about the appointment, Sue Hayes, Chief Executive Officer at Nottingham Building Society, said: 'Russ brings deep expertise and a proven track record of delivering digital transformation at pace and scale. Since joining us earlier this year, he's had a great impact, and I know he will continue to do so as he leads our transformation programme.
'He has successfully delivered complex transformation across banks, fintechs, and global financial services institutions, including most recently at Shawbrook, where his work played a key role in more than doubling the bank's loan book and deposits while radically improving digital experiences for customers and brokers alike.
'This is a pivotal moment for the Society pivotal as we prepare to launch new technology that will transform the mortgage experience for brokers, borrowers, and colleagues alike. Russ shares our values, our purpose, and our belief in building a modern mutual that serves real lives.
'With over three decades of experience, Russ has led enterprise-wide technology strategies, built and scaled high-performing engineering and product teams, and driven operational excellence through innovation. He brings not only technical depth, but also the leadership and cultural insight needed to embed lasting change that puts the customer first.'
Sue added: 'We pass our thanks on to Paul Howley for everything he has done during his time with us. Paul's legacy is not only the systems and structures he helped deliver, but the culture he helped shape.'
Russ Thornton added: 'I'm extremely excited to join the Society at such a transformative point to continue to deliver on its purpose and promise to its members and communities. That sense of purpose and its ambition to serve members who don't fit the traditional mould was really attractive to be part of.
'Under Paul's guidance, the team has made fantastic progress modernising its mortgage and savings platforms, and I'm looking forward to building on that momentum. My focus will be on ensuring we have the right capabilities, controls and culture in place to grow with confidence and deliver great outcomes for our members and broker partners.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
8 minutes ago
- The Independent
Almost 50,000 firms near collapse amid ‘immense strain' from tax hike
Nearly 50,000 UK companies are on the brink of collapse with retailers and hospitality firms among the hardest hit as rising wage costs due to budget measures put small firms under 'immense strain', according to a report. The latest Begbies Traynor red flag alert found that firms in critical financial distress rose by more than a fifth – 21.4% – year-on-year to 49,309 in the second quarter. Consumer-facing industries saw some of the most 'extreme' rises in critical financial distress, with a 41.7% surge among bars and restaurants, a 39% leap for travel and tourism and 17.8% jump for general retailers. Begbies warned that many independent pubs will not have the scale to withstand the pressures for another year without action. Ric Traynor, executive chairman of Begbies Traynor, said: 'The sharp rise in critical distress underscores just how tough the economic environment is for UK businesses and it's abundantly clear that tens of thousands of firms are struggling to stay afloat. 'Small and medium sized businesses across the UK are being put under immense strain by the recent increases to employer's NI as well as the increase to the national minimum wage. 'With limited financial headroom to absorb rising costs, many businesses are now reaching a tipping point.' It is the latest sign of the toll taken on many firms by the Government's move in last autumn's budget to increase national insurance contributions (NICs) and hike the minimum wage, both taking effect in April. Labour-intense companies in particular have felt the impact, such as retailers and restaurants and bars. Troubles in the sector have been compounded by a pull back in consumer spending, according to Begbies. Julie Palmer, a partner at Begbies Traynor, said: ' Households are still grappling with their finances, and this is keeping consumer confidence volatile. 'The knock-on effect of this is clear to see in the consumer-facing sectors where margins are thin, growth is hard to come by, and the impact of higher employee costs is pushing many businesses to the brink of collapse. 'So, it is of no surprise to me that while larger pub groups might be performing well, by squeezing out extra efficiencies to counteract onerous price rises, many independent players won't have the scale to withstand the pressures of this environment for another 12 months if nothing improves.' The British Beer and Pub Association (BBPA) recently estimated that 378 pubs will close this year across England, Wales and Scotland, which it said would amount to more than 5,600 direct job losses. The wider economy is also showing signs of strain, with recent official figures revealing gross domestic product shrank by 0.1% in May, following a 0.3% drop in April. 'With no end in sight to the current economic malaise, I fear the financial burdens companies are enduring at present are simply too high for many not to avoid collapse,' said Ms Palmer.
The Independent
8 minutes ago
- The Independent
‘More to do' on US steel tariffs than Trump and PM can resolve, minister signals
There is unlikely to be a 'resolution' in talks over US tariffs on UK steel when Donald Trump and Sir Keir Starmer meet on Monday, Jonathan Reynolds indicated, saying there was 'more to do' in negotiations. The Prime Minister will attempt to hammer out a deal on steel import levies when he meets the US president at Turnberry, Mr Trump's Ayrshire golf course. Sir Keir and Scotland's First Minister John Swinney also plan to urge the US president to apply pressure on Israel to allow more humanitarian aid into Gaza, where the population is facing starvation. When the UK and US signed a trade deal in June, it reduced tariffs on car and aerospace imports to the US. But agreement on a similar arrangement for Britain's steel imports was not reached, leaving tariffs on steel at 25%. American concerns over steel products made elsewhere in the world, then finished in the UK, are said to be among the sticking points. Sir Keir is expected to spend most of the day with President Trump on Monday, when he will have a chance to press the president on a steel deal. But Business Secretary Mr Reynolds suggested it may take more than a meeting between the two leaders to resolve the matter, telling BBC Breakfast: 'We were very happy to announce the breakthrough that we had a few months ago in relation to sectors like automotive, aerospace, which are really important to the UK economy. 'But we always said it was job saved, but it wasn't job done. There's more to do. 'The negotiations have been going on on a daily basis since then. There's a few issues to push a little bit further today. 'We won't perhaps have anything to announce a resolution of those talks, but there's some sectors that we still need to resolve, particularly around steel and aluminium, and there's the wider conversation about what the US calls its reciprocal tariffs.' It comes after Mr Trump announced he had agreed 'the biggest deal ever made' between the US and the European Union after meeting Ursula von der Leyen for high-stakes talks at Turnberry on Sunday. After a day playing golf, the US leader met the president of the EU Commission to discuss the broad terms of an agreement that will subject the bloc to 15% tariffs on most of its goods entering America. This is lower than a 30% levy previously threatened by the US president. Sir Keir is also likely to use his time with Mr Trump to raise the starvation faced by the population of Gaza. The Prime Minister has condemned Israel for restricting the flow of aid into the territory, alongside the leaders of France and Germany. The UK will take part in efforts led by Jordan to airdrop aid into Gaza, Sir Keir said over the weekend. Elsewhere, he is facing pressure from more than 220 MPs to immediately recognise the state of Palestine, something which French president Emmanuel Macron has promised to do. The US is the country 'with the leverage' to make a difference in the conflict in Gaza, the Business Secretary suggested. Mr Reynolds told BBC Breakfast that Gaza would 'of course' be on the agenda for the meeting of the two leaders, adding: 'The intolerable scenes that we're seeing, the world is seeing, are the backdrop to that. 'And of course, the US has itself secured on two occasions ceasefires in the conflict, so they have been actively engaged in it, working with Egypt, the Qataris, and other key partners in the region.' Mr Swinney also promised to raise Gaza with Mr Trump, as it was 'causing deep unease and concern and heartbreak within Scotland'.
Auto Car
8 minutes ago
- Auto Car
Electric Citroën C5 Aircross undercuts Skoda Enyaq at £34,065
The new Citroën ë-C5 Aircross has gone on sale, priced from £34,065, undercutting key rivals such as the Skoda Enyaq by £5000. The SUV was revealed in April with a bold new design language and the option of electric power for the first time, as the French brand renews its assault on Europe's crucial crossover market. The new C5 also goes on sale with combustion-engined power from £30,495. That starting price is £2000 more than the car it replaces and puts it in the same bracket as rivals such as the new Mazda CX-5 and Nissan Qashqai. The range starts in base You! trim, which includes a 13in touchscreen with built-in navigation, wireless phone charger, adaptive cruise control and 18in alloys. Pricing tops out in Max trim at £35,775 for the ICE model and £39,345 for the EV. This adds premium materials, a larger head-up display, heated front seat and steering wheel, electric tailgate and a heatpump for the EV. Prices for the EV could drop by as much as £3750 if the model is eligible for the UK government's new electric car grant - eligible cars will be named on 11 August. Based on parent company Stellantis's new STLA Medium architecture (as used by the Peugeot 3008 and Vauxhall Grandland), the second-generation C5 Aircross is the flagship of an overhauled Citroën line-up and sits above recently refreshed and renewed versions of the Ami, C3 and C4. At launch, the C5 Aircross is offered as either a 143bhp hybrid (which pairs a 1.2-litre three-cylinder petrol engine with a small electric motor) or a 207bhp EV with a 73kWh battery giving 322 miles of range (or 321 miles in Max guise). After launch, two other powertrains will be offered. One is a plug-in hybrid set-up that pairs a 1.6-litre four-cylinder petrol engine with an electric motor and a 21kWh battery for 193bhp and 53 miles of engine-off driving. The other is a 227bhp EV that uses a larger 97kWh pack to offer 421 miles of range. DESIGN As promised to Autocar by designer Pierre Leclerq, the production version of the new C5 Aircross stays true to the bold concept car that was revealed last year at the Paris motor show. It retains the minimalistic two-box silhouette of the previous C5 Aircross but features a wide-reaching focus on aerodynamics in a bid to increase efficiency.
