Northern Ireland’s largest locally owned building society appoints Ballymena man as new chief executive

Progressive Building Society’s chief executive Michael Boyd has said it’s a ‘privilege’ to be the new boss of the stalwart savings and mortgages institution.

Michael, a qualified chartered accountant from Ballymena, assumed his post at the helm Northern Ireland’s largest locally owned building society on November 1.

The former deputy chief executive and finance director at Progressive takes over from previous incumbent Darina Armstrong, following a competitive appointment process.

Michael, who has worked at Progressive for 27 years, said he was looking forward to leading the Society as it continues an exciting period of growth.

“It’s a privilege to be taking over the leadership role of Progressive Building Society at such an important and exciting time,” he said.

“We have ambitions to expand both our lending and deposits in the coming years as we continue to make progress. Our goals have, of course, been enabled by the rollout of our digital transformation project, together with the strength and presence of our branch network.”

Keith Jess, chair of Progressive Building Society, said he was delighted that Michael has now taken up his new role as chief executive.

“Michael has extensive experience and understanding of the society and has been pivotal in underpinning our place as a building society of choice in Northern Ireland,” said Mr Jess.

“In his role as deputy chief executive and finance director, he has helped drive the continued evolution of the society and is well placed to take the lead as we enter the next period of growth.”

Michael paid tribute to his predecessor, who retired last month: “Darina has been instrumental in creating a robust and dynamic organisation with a great culture, one which continues to act as a benefit for society across Northern Ireland, and I look forward to leading the society in the next stage of its journey alongside our outstanding team.

“I would like to thank Darina for her commitment to the society and to Keith and the board for entrusting me with such an important role.”

Michael has been integral to the Progressive’s success by delivering on its strategic vision and he was also part of the team which successfully navigated the housing downturn from 2007, producing profitable results every year. 

He will continue the rollout of Progressive’s digital transformation, one which is ensuring the society remains relevant to its members and which will allow the society to grow in the coming years and accommodate further increases in lending.

With strong local knowledge and experienced staff, Progressive has a strong presence in Northern Ireland’s towns and cities and sees itself as an integral part of the economy, enabling local saving members to fund home ownership for local people.