No-fee mortgage broker Alexander Hall founder Simon Nimmo is setting up new high-net-worth mortgage brokerage Charles Cameron.
Nimmo has seven brokers on board already and is looking for around 20 by the end of the year for the firm, which is set to launch in April. He says he wants Charles Cameron to remain small and niche.
The brokerage will be based in London and focused on high-net-worth clients. Nimmo is not intending to launch an extensive ad campaign, as he did at Alexander Hall, as he hopes that a big proportion of his business will come from private banks.
Business will also come from his brokers' existing clients. Nimmo is also looking to work with big wealth management IFAs who will pass mortgage business on to Charles Cameron.
Nimmo, who founded Alexander Hall in 1992 and increased it to 60 brokers, is just concluding a year's gardening leave after leaving the company last February.
He says: “I am looking to create something unique here, where brokers can work autonomously. There are a lot of good brokers out there with their own client banks who could very easily self-source. I want Charles Cameron to help brokers to develop.”
Premier Mortgage Services managing director John Malone says: “I am sure Simon will create and build a successful operation here as he did with Alexander Hall. Charles Cameron is likely to rival the existing household names in the London area.”