THE search is on for a new boss at Bradford-based Yorkshire Building Society after the surprise announcement that current chief executive Chris Pilling to leave.

Mr Pilling has decided to stand down after five years at the helm of the UK’s second largest building society but will stay on until the end of the year and hand over to his successor.

Mr Pilling, who joined the Society in 2011from HSBC where he headed the branch network, said: “After nearly five years as chief executive of the Society during a period of significant change, I have decided to step down with the intention of pursuing new and different opportunities that will give me more balance with my family life.

“From a personal perspective, I believe now is the right time for me to do this and for the board to appoint a new chief executive to continue to take the Society forward.”

YBS chairman John Heaps said: “It is with regret that I have to announce that our chief executive Chris Pilling intends to step down. This is entirely a personal decision on Chris’ part. I would like to thank Chris for his tremendous contribution to the continuing success of the Society over the past five years.

“Chris has provided outstanding and strong leadership and demonstrated a deep commitment to ensuring that our members’ interests are at the centre of everything that we do. He has developed an excellent management team and they remain clearly focused on continuing to manage the Society.

“The process of finding a suitable successor to build on Chris’ achievements has already commenced. In the meantime, Chris will remain chief executive and continue to work with the rest of the board and senior management.”

During his tenure Chris Pilling has overseen the continued growth and extensive reorganisation of the YBS group, which also includes the Norwich & Peterborough brand.

Last year the mutual, which has 3.3 million customers, increased operating profits to a record £185 million, although gross lending fell to £6.9 billion from a record in 2014 of £7.6 billion through being more selective about its mortgage offers.

In 2013 YBS bosses controversially decided to move some head office staff outside its Bradford home by leasing part of the former John Lewis department store in Leeds city centre to create extra working space after saying no suitable building was available in Bradford.

It has, however, invested £11 million to upgrade its headquarters building off Rooley Lane which houses around 1,000 staff.

Chris Pilling also oversaw the Society’s 150th anniversary celebrations in 2014.