View more on these topics

Britannia chief takes on new role to push Verso and PHL

Britannia Building Society has created a new role of managing director of non-member business to focus on growing its Verso and Platform Home Loans mortgage subsidiaries and other non-core activities.

Gerald Gregory, 46, is promoted to the post from his current job as sales and marketing director, a position he has held since 1999. He joined Britannia in 1989 as treasurer, became head of lending in 1993 and director of mutuality in 1997.

Gregory says the society&#39s move to put more resources into non-core business does not affect its commitment to mutuality and its members&#39 loyalty bonus scheme which has paid out £250m in the last six years.

He says increasing profits generated by Verso, set up in 1997 for self-certification and buy-to-let mortgages through intermediaries, and impaired credit lender Platform, which it bought last year, will benefit members by allowing more money to be dished out thr-ough the bonus scheme.

Gregory will not say how much will be invested in non-core business or reveal growth targets but says he is confident he can increase its current 35 per share of group profits.

He says: “We have chosen to invest capital in complementary businesses and set up the a new position with responsibility for subsidiaries as part of a strategy to ease pressure on margins elsewhere. We are taking a range of directions and not putting all our eggs in one basket.”


Just a click away

Online advice is the inevitable next step along the road to improved customer loyalty and profitability.Commentators acknowledge that the weakness of many customer relationship management initiatives has been the focus on cross-selling products rather than delivering added value to customers. The significance of financial advice online as a new way of delivering added value should […]

CP121 will make IFAs stronger

In my view there are two ways that our industry can react to any proposed change in regulation. We can fight the changes tooth and nail and end up losing. Alternatively, we can embrace the fact that change is going to happen and try to have the maximum input to the process to make sure […]

Waiting on line

Millions of pounds have been invested in the development of online new business systems, promising to provide complete online transactions and reduced costs across the industry.Why is it then that so few IFAs are using it and so many more are in the dark over its availability and purpose?It might be helpful to give a […]

Standard Life – 5 Year Buy-To-Let Fixed

Fixed term: 5 yearsFixed rate: 6.15%Minimum loan: £40,000Maximum loan: up to 80% of valuation subject to maximum £400,000 on single property, £500,000 on up to 5 rental propertiesIncome multiples: income must equal at least 9% of loan amount, subject to minimum principal income of £20,000 or £30,000 jointArrangement fee: £350 for single mortgage, £500 single […]

Benefits - thumbnail

Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm