No tlc for the plc (interview with Peter Griffith, chief executive officer of the Principality Building Society, and incoming chairman of the Building Societies Association)

Citation

Ainger, N. (2011), "No tlc for the plc (interview with Peter Griffith, chief executive officer of the Principality Building Society, and incoming chairman of the Building Societies Association)", Strategic Direction, Vol. 27 No. 11. https://doi.org/10.1108/sd.2011.05627kaa.011

No tlc for the plc (interview with Peter Griffith, chief executive officer of the Principality Building Society, and incoming chairman of the Building Societies Association)

Article Type: Abstracts From: Strategic Direction, Volume 27, Issue 11

Ainger N. and Griffith P.Banking Technology, June 2011, Start page: 34, No. of pages: 3

Reports an interview with Peter Griffith, the chief executive officer (CEO) of the Principality Building Society, and incoming chairman of the Building Societies Association, concerning his plans for the future, the impact of the global financial crisis and resulting regulations on this particular financial sector, consolidation, the need for shared technology services, and how to compete with the plc banks. Reveals that the key tenets of his year in charge of the BSA will be to re-stress the benefits and brand strength of mutuality, while preaching that ongoing modernity is necessary to maintain its relevance and growth. Concludes that a shared services platform, as a common back office, is highly desirable as it can increase efficiency, and drive down costs for everyone concerned.Article type: ViewpointReference: 40AN367

Keywords: Banks, Building societies, Competitive strategy, United Kingdom