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Building society would look at bids

Derbyshire Building Society’s new chief executive Graham Picken says the mutual will consider takeover bids but he would prefer it to remain independent.

Picken, previously a non-executive director, last week replaced chief executive Peter Richardson who is retiring early after being in the role for eight years.

The society was recently put on review for a possible downgrade by credit rating agency Moody’s which says Derbyshire, which has £6bn of assets, has relatively high exposure to specialised mortgage markets such as sub-prime, self-certification and buy to let. It says much of this exposure is of high credit quality but these sectors have not been tested in a significant downturn.

Eighty-three per cent of Derbyshire’s mortgage lending is funded by customer deposits and 88 per cent of its mortgages are prime. A statement from the Derbyshire said: “Moody’s decision is disappointing but understandable, given the current uncertain economic conditions.”


Royal Liver boosts consumer website

Progress from Royal Liver has revamped its website so it now provides answers to the most common non-underwriting protection queries.The website,, outlines what to do and who to contact in the event of a claim, the products Progress offers and how they work, answers to frequently asked questions and links to websites for further […]

Reeve admits glitches in platform launch

Positive Solutions chief executive Jim Reeve has conceded that training support and communication during the rollout of the firm’s True Potential platform were “inadequate” and “uncoordinated” but has also criticised some partners for their own lack of preparation and negative attitude.At Positive Solutions’ National Partners Forum in Birming-ham last week, Reeve acknowledged that advisers have […]

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White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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