The Cambridge announces new Chief Executive Officer

13 November 2019 • Corporate

The Cambridge Building Society has announced Peter Burrows as its next Chief Executive Officer after a summer-long search.

Stephen Mitcham, the Society’s Chief Executive Officer for the past 12 years announced his decision to step down earlier in the year to spend more time with his family and pursue other interests.

With 20 years’ experience in financial services gained in a combination of executive and consulting roles in the UK and overseas, Peter joined the team at The Cambridge as Finance Director in March 2016.  During his tenure as Finance Director, Peter has been integral to the delivery of The Cambridge’s strategy to deliver sustainable growth focussed on the long term benefits to both savers and borrowers. Following a record year of lending in 2018, and growth of their mortgage book by over a third in the last three years, The Cambridge is continuing to enhance its lending proposition through the development of further products and services.

Peter Burrows, newly appointed Chief Executive Officer of The Cambridge commented, “Our continued financial strength is essential in maintaining the sustainability of The Cambridge, but increasingly it is important that we develop the Society to meet the changing needs of our existing and future members, along with our intermediary partners. I’m delighted to be taking over as Chief Executive Officer, and am excited at the opportunity to build on a long and successful history as we take The Cambridge forward as a thriving, independent mutual business.”

Jonathan Spence, Chairman of The Cambridge commented on the appointment. “After a rigorous selection process, Peter Burrows was the clear choice to become the next CEO of The Cambridge. I’m looking forward to having the benefit of Peter’s financial expertise along with his passion for the sustainability of the business, whilst continuing to provide excellent service for our members.”