Larry Banda, who oversees Nationwide’s network of 300 financial planning managers and video conferencing full advice service, becomes a non-executive director at the Tax Incentivised Savings Association.

Mr Banda, divisional director financial planning, protection and investments, said: “At Nationwide, as a building society, our savers are very important to us. We look after the needs of over 15 million members many of whom have more than one savings account with us.

“I know that TISA share this consumer focus, which is why I am delighted to have become a member of its Board. I look forward to working with my colleagues to create an even better environment in which consumers can save for their future.”

David Dalton-Brown, TISA director general, said: “A key aim of TISA is to help the industry to better engage with the consumer in order to drive up the levels of personal savings in the UK. Larry’s expertise and experience will be invaluable to us as we further develop and implement our policy proposals.

“Our pan-industry approach on a broad range of strategic and technical issues is being increasingly recognised by Government and the regulators. We look forward to working with Larry as we continue to enhance these relationships and broaden our industry reach.”

At its Annual General Meeting last year TISA confirmed the appointments of Elissa Bayer – senior investment director at Investec Wealth & Investment - and David White, managing director – retail at Zurich UK Life as non-executive directors, while Baroness Jeannie Drake, CBE was appointed as an advisor to the board.