Image of Richard Wales

25 January 2021

Principality appoints new Commercial Lending Director

Richard Wales has been appointed as the Commercial Lending Director of Principality Building Society’s Commercial team.

He succeeds Managing Director Peter Hughes, who announced his intention to step down to focus on family commitments last September having given over 18 years of service to Principality. 

Richard moves to lead the Commercial business from his current role as the Head of Commercial Underwriting team. He has been with the team since 2012 having previously worked for HSBC in various management roles for 20 years.  

Julie-Ann Haines, CEO at Principality Building Society, said: “Richard is an excellent appointment with his extensive banking experience, and he has great insight into the expectations of our customers having fulfilled several senior roles within Principality Commercial since joining. He has an exciting vision for our Commercial business but he’s also acutely aware of the challenges currently faced by our clients brought about by the COVID pandemic. 

“I want to say a big thank you to our Managing Director Peter Hughes who has given 18 years of brilliant service to his clients and to Principality. He leaves with the best wishes of all his colleagues.”

Richard Wales said: “I’m excited and honoured to be leading a devoted, talented group of colleagues who have consistently delivered for our customers and I look forward to building on this success.  The current priority is to lead the business through the challenges the pandemic brings whilst continuing to support our customers at this difficult time.  Then as we move forward focus the team in delivering some exciting projects that can make a real difference to our communities in which we operate by investing in affordable homes, driving sustainability in housing, creating economic prosperity and jobs.”

Published: 25/01/2021

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