Meet the Board

Alan Waterfield - Non-executive Director and Senior Independent Director, Penrith Building Society

William Lindsay


Will joined the Board in 2015 having had a long and successful career in banking. Will became the Society’s Chair in 2021. His knowledge extends across all aspects of retail banking, including private and business banking. Before retiring from Clydesdale Bank he was Regional Director for London and South region and on his way south, spent seven years in Cumbria as Regional Manager. He is a Fellow of the Chartered Institute of Bankers in Scotland. He enjoys all sports and spending time with his family.

Zack Hocking

Chief Executive

Zack joined the Society in December 2023 having started his career as a Chartered Accountant and then spending 25 years in Financial Services, including 16 years at Co-operative Financial Services. Zack lives with his wife, three daughters and their family dog in Altrincham and spends as much time as possible running, walking and cycling in the Lake District. He is currently working towards gaining his mountain leader qualification and is a keen supporter of the Duke of Edinburgh award scheme that helps introduce young people to the beautiful outdoors and supports the development of a whole range of life skills.

Elspeth James - Finance Director, Penrith Building Society

Elspeth James

Finance Director

Elspeth was born in Carlisle and studied at Edinburgh University where she qualified with a mathematics and statistics degree. Elspeth then gained over 17 years’ accounting experience with KPMG and Johnston Carmichael where she worked with retail banking clients and other building societies both in the UK and Australia. Elspeth became the Finance Director of Penrith Building Society at the start of 2013. She and her partner live in Penrith with their daughter and Airedale terrier. In her spare time Elspeth enjoys running
and pilates

Richard Drinkwater - Non-executive Director, Penrith Building Society

Richard Drinkwater

Non-Executive Director & Chair of Nominations and Remuneration Committee

Richard joined the Board in July 2017. He is currently Managing Director of an investment company and Chair of a property company. Since 2003 he has been involved in a number of successful business start ups in the Software, Green Energy, Leisure and Hotel sectors and he continues to provide Senior Executive Coaching across the Financial Services Sector. Prior to this Richard spent 17 years with the Royal Sun Alliance Group in the Life, Pensions and Investment business. Richard has an MBA in Marketing & Finance from Sussex University. He is a keen runner and an avid supporter of rugby

Janice Lincoln

Non-Executive Director and
Chair of Audit, Risk & Compliance Committee

Janice joined the Board in 2014. She was born in Darlington and spent all of her 38 year career at Darlington Building Society becoming Finance Director in 2010. Having worked in retail banking all of her life she has a vast knowledge of all aspects of Building Societies with financial and strategic focus. Having retired in 2015 she concentrates on her passion for gardening and travelling the world. She is involved with Darlington Credit Union, ensuring she gives something back to the community that has served her well
during her life.

Rod Ashley

Non-Executive Director

Rod joined the Society’s Board in April 2020 and is an experienced Bank Chief Executive and Board Member operating at senior management and leadership level since 2000. In his most recent role, he is leading a team setting up a new challenger bank and he was previously the Chief Executive at Airdrie Savings Bank. A graduate of the University of Glasgow, Rod is also a Fellow of the Chartered Banker Institute. He is well known in the industry, having sat on various regulator panels, and is currently on the advisory board of the Adam Smith Business School in Glasgow. Outside of work Rod’s interests include playing tennis and his lifelong interest in all things theatrical.

Fiona Smith

Non Executive Director

Fiona joined the board on 1 September 2023.   An experienced General Counsel and Company Secretary in various utilities, including National Grid PLC and Severn Trent Plc who, before giving up full time work,  had been member of an Executive Team for nearly 30 years. She has also been a Non-Executive Director in the Building Society sector since 2002, first with Coventry Building Society and latterly with Manchester Building Society.  She believes in the value of building societies and is a firm supporter of the mutual sector.  When not involved in her voluntary work supporting community development in her local area she enjoys travel to remote and wild places. 

Nikki Marsh

Non Executive Director

Nikki joined the Board in  2023 after a successful leadership career in Financial Services and the Public Sector. Her expertise centres around Marketing, Digital Transformation and driving Customer Centric Culture in organisations. She continues to provide Executive Coaching alongside her Non-Executive Director commitments.  Nikki is a passionate supporter of the building society movement and the mutual sector more broadly, having spent 10yrs previously at Leeds Building Society.  She loves hiking, especially in far flung places and keeping fit at the gym.