Clare will succeed Ben Broadbent, who has served since 2014.

However, transactions saw the first month-on-month increase since August 2023.

£154.7bn worth of property was sold in 2023, an annual reduction of 48%.

Nationwide has taken further steps to make its services easier to use and more supportive for customers with mental health problems.

The number of homes for sale are a fifth (21%) higher than a year ago, with buyer demand up 11% and sales agreed 15% higher.

The regulator has warned that the ‘clock is ticking’ on implementation of the second phase of Consumer Duty.

The growth of AI, struggles to attract younger talent, and retiring IFAs were all cited as reasons for adviser shortages.

Firms are seeking experienced advisers who can hit the ground running, as well as diversify into more complex markets.

The regulator will publish updates on investigations as appropriate and be open about when cases have been closed with no enforcement outcome.

The Society says the rebrand acknowledges its evolution beyond its initial roots.