Newport-based Monmouthshire Building Society has strengthened its board with the appointment of a new non-executive director.

Debra Lewis is an independent member of several credit and investment committees for Rothschild, and an independent member of the Audit Committee for the London Borough of Barnet.

Debra, who grew up in South Wales, is a Fellow of the Institute of Chartered Accountants in England and Wales, and holds an LLB law degree from University College Cardiff.

Debra qualified as a chartered accountant with Ernst & Young and worked with them in both London and Sydney.

She then spent more than 18 years in the city with Rothschild, initially in internal audit and then held a variety of roles in banking, lending money, recovery and advising clients on debt restructuring and debt raising, spending seven years as managing director, head of credit, overseeing lending activities for the bank before assuming her current role as a consultant.

MBS chief executive Andrew Lewis said: “We are delighted to appoint Debra to the society’s board of directors. Her extensive strategic experience at Rothschild will bring a fresh and innovative perspective to the affairs of the society that we are confident will successfully complement the diverse skills of the existing board members.

“As the mutual sector continues to adapt to ongoing challenges, it is vital that the society recruits the best available talent to our non-executive and executive director positions. Debra’s appointment will greatly contribute towards strengthening the society’s strategic position as it continues to grow and flourish.”

Debra said: “I am delighted to join the board. The society enjoys a longstanding and enviable reputation for its financial strength and security, its innovative approach to business and for the quality of its customer service. I look forward to applying my experience towards making a valuable contribution to the society's continuing success and ongoing growth.”

This year, the Newport-based mutual society announced an impressive set of annual results.

In the 12 months to April 30, 2014, it experienced 10.3 per cent growth, while profit after tax reached £4m, as customers continued to respond to the its secure track record, quality of service and competitive product range.

In September 2014, the society announced the achievement of £1bn pounds in assets.