Steve Hughes

'I’m proud to lead a fantastic mutual organisation. You, our members, continue to tell us that the proof points you expect us to deliver on are great value, outstanding service, keeping your money safe and secure and that you expect us to do the right things for the wider community. In 2025, we sustained a strong and disciplined performance across all of these areas. We also brought The Co-operative Bank back into mutual ownership and made significant progress in building something meaningfully different together. Externally, we’ve continued to see change and uncertainty. However, we continued to deliver on our mutual values and promises. We want to be a digital business, but we’ll always be human, with great service delivered by my fantastic colleagues. Thank you for your continued support and loyalty.'

Steve Hughes

Chief Executive and Executive Director

Appointed to the Board

April 2020

Committee membership

Chair of the Non-Executive Directors’ Remuneration Committee.

Experience

Steve has broad transformation, financial and operational experience in senior and board level roles within financial services and consumer goods sectors. Before joining the Society, Steve had been Chief Executive of Principality Building Society, and Finance Director of the Lloyds Banking Group General Insurance businesses. Steve also held the role of Non-Executive Director on the main Board of UK Finance and Chair of the Audit and Risk Committee of UK Finance.

External appointments

Member and Chair of the Audit Committee at the BSA council. Advisory Board Member of the Money and Pension Service. Member of the Payments Advisory Board for the Pennies Foundation. Member of the FCA Practitioner Panel.

‘We have continued to see a year of significant change and uncertainty. However we continued to deliver on our mutual values and promises. You, our members, continue to tell us that the proof points you expect us to deliver on are great value, outstanding service, keeping your money safe and secure and that you expect us to do the right things for the wider community. In 2024 we sustained a strong and disciplined performance across all of these areas. We continued to invest in our technology and digital services but continued to provide fantastic service through our colleagues in the telephony teams and brilliant branch network. We want to be a digital business but will always be human. We rewarded loyalty and continued to offer highly competitive mortgage and savings products. In our 140th year we have also made the ambitious acquisition of The Co-operative Bank, enabled by our financial strength and to sustain this strength into the long term. Thank you to our members, customers and partners for their continued support and loyalty.’

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Steve Hughes Chief Executive and Executive Director

Appointed to the Board April 2020

Committee membership Chair of the Non-Executive Directors’ Remuneration Committee.

External appointments Member and Chair of the Audit Committee at the BSA council. Advisory Board Member of the Money and Pension Service. Member of the Payments Advisory Board for the Pennies Foundation. Member of the FCA Practitioner Panel.