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Cobalt says it is still open for business

London broker Cobalt Capital says it is still open for business but would not comment on concerns about the future of the firm.

Cobalt Capital partner Andy Montlake says staff are still working at the brokerage and it is open to write mortgages.

He says: “We are open for business right now. I am in the dark like the rest of the staff as to what is going on.”

Earlier this week, Cobalt Capital director Julian Ingalls admitted a rift in the senior management of the company, but denied the firm was going into administration.

Ingalls says: “Cobalt senior management and partners have not seen eye to eye and have disagreed about several things.

“It’s difficult trading times and we have been discussing how to take the business forward. People need to pull together in situations like this and that has not been happening.”


Tennant steps up as Portal chairman

Money Portal has appointed non-executive director Mark Tennant as its chairman after Richard Hambro stepped down due to serious illness.


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