TEACHERS Building Society has appointed Paul Marsden as interim finance director.

He has joined the Wimborne-based mutual to replace Dean Fensome, who has become finance director at Holmesdale Building Society.

Mr Marsden was chief executive of Harpenden Building Society for nine years, after six years as its finance director.

He has also been managing director of Bank and Clients PLC, a newly formed challenger bank in the City.

Mr Marsden said: “I’m very excited about the opportunity at Teachers to help continue to build on the unique mutual model, providing fantastic products and services to the teaching profession and the wider membership.”

Teachers Simon Beresford said of Mr Marsden: “He is a great asset with his strong background in the building society and banking sectors and I look forward to working with Paul as we drive the society forward.

“While we welcome Paul we must also say goodbye to Dean and I know I speak for the whole team at Teachers in wishing Dean well in his new role at the Holmesdale.”

Founded in 1966 by the National Union of Teachers, now the National Education Union, Teachers Building Society saw mortgage lending rise last year and a pre-tax profit of £621,000 despite substantial investment in technology and systems.