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Davis to leave Nationwide

Nationwide chief executive Brian Davis has announced he will retire in December at the age of 56 after seven years with the society.

Retail operations director Philip Williamson has been appointed by the board to replace Davis, who Nationwide says has delivered £1.4bn back to members through lower mortgage and higher savings rates in the last five years.

Williamson will be replaced by divisional director Jim Willens while deputy chief executive Bernard Simpson has been appointed chief operating officer.


Stakeholder survey shows gender gap

Men are considerably more aware of the introduction of stakeholderpensions than women, according to research by Barclays and Legal & General. The life office, which recently agreed a deal with the bank to provide itspensions products have found that more than half of men have heard ofstakeholder pensions compared with just 41 per cent of […]

FSA must come up with answers as Equitable axe falls

The grim conclusion from the Equitable Life debacle seems to be thateveryone who could have got out should have got out but it may now be toolate. Equitable has proved to be a zero-sum game. The axe has fallen onEquitable policies with a drastic 16 per cent cut in pensions while lifeinsurance plans face a […]

Specialist lenders are winning broker business

More than three-quarters of mortgage intermediaries deal with specialistas well as mainstream lenders, according to new research from UCB HomeLoans. The Nationwide Building Society subsidiary which specialises in lending toself-employed people and other non-conformist borrowers says 78 per cent ofmortgage brokers use specialist lenders. UCB says there are two major niches within the specialist market. […]

NU bolsters business benefits

NORWICH UNION Business Benefits @ Norwich Union Type: Cafeteria-style group protection product which includes group income protection, group life cover, group private medical insurance and accident, sickness and unemployment protection for customers with Norwich Union group pensions. GROUP INCOME PROTECTION Minimum benefit/premium: 30 per cent of salary/£500 a year. Minimum-maximum ages: 16-64. Minimum group size: […]


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