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May 25, 2015 3:40 PM ET

Diversified Financial Services

Company Overview of Newcastle Building Society

Company Overview

Newcastle Building Society, a building society, provides savings, investment, mortgage, and insurance products to members and customers in the United Kingdom. It offers home insurance, life protection, and landlords’ insurance. The company also provides residential and commercial property rental services; financial advice; specialized products and services; managed IT services; and business-to-business services through people, processes, and technology. Newcastle Building Society is headquartered in Newcastle upon Tyne, the United Kingdom.

Portland House

New Bridge Street

Newcastle upon Tyne,  NE1 8AL

United Kingdom

853 Employees

Phone:

44 19 1244 2000

Key Executives for Newcastle Building Society

Chief Executive Officer and Executive Director
Age: 51
Finance Director, Deputy Chief Executive and Executive Director
Age: 47
Group Secretary
Strategy, Planning & Risk Director and Director
Age: 45
Executive
Compensation as of Fiscal Year 2014.

Newcastle Building Society Key Developments

Newcastle Building Society Appoints Andrew Haigh as Chief Executive Officer

A new Chief Executive has been appointed at Newcastle Building Society. Andrew Haigh, the Society's Chief Operating Officer, will take on the role following Jim Willens' decision to step back from full time executive work after five years at the helm of the Society. Mr. Haigh, will take up the post from 1st May, having already worked at the Society in his current role since January 2014. Andrew, who is from Yorkshire but now lives in the North East, brings a wide range of business experience, with over 20 years in the mutual sector, including more than 10 years as Chief Executive of Engage Mutual Assurance. Andrew gained his strong customer focus through his early career in marketing and customer service roles with British Airways, Barclays and National & Provincial Building Society.

Newcastle Building Society Reports Consolidated Earnings Results for the Year Ended December 31, 2014

Newcastle Building Society reported consolidated earnings results for the year ended December 31, 2014. For the year, the company reported profit for the year before taxation was £4.0 million against £1.3 million for the same period a year ago. Profit after taxation for the financial year was £2.9 million against loss after taxation for the financial year was £0.5 million for the same period a year ago. Net cash flows from operating activities was £59.7 million against £259.3 million for the same period a year ago. Purchase of property, plant and equipment was £3.5 million against £0.6 million for the same period a year ago.

Newcastle Building Society Announces Board Changes

Newcastle Building Society appointed Karen Ingham and Richard Bottomley as Non-Executive Directors. Ms Ingham has extensive customer services experience and is currently the Director for Customer Services within Virgin Media, responsible for all front line operations. Mr. Bottomley was senior partner in KPMG's Newcastle office for a number of years and has more than 25 years experience in corporate finance and strategy. Latterly, he has worked as a financial and business advisor to a range of organizations.

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