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EMS sale means end of any link with Enterprise

Having read September 21 article in Money Marketing concer-ning Richard Coulson “buying into a brokerage”, I feel it is appropriate to clarify the position.

Enterprise Group, of which I am chief executive, has recently sold 100 per cent of one of its companies, Enterprise Mortgage Specialists, to another group, which includes Mr Coulson as one of its directors.

EMS is a mortgage brokerage which I founded 10 years ago. Unlike the other companies in the Enterprise Group, it dealt directly with consumers rather than intermediaries.

It also operated from diff-erent premises. During the huge growth in our inter-mediary-focused business, which now employs over 100 people and originates over 700m in new business each year, EMS remained very much on the sidelines, playing no part in our strategic development.

Enterprise Group’s strategic objective is to be a market leader in providing services to networks, including sub-prime packaging, arran-ging secured loans, bridging finance, commercial and international mortgages.

EMS did not fit with our current or future strategy and so disposal was therefore the sensible option. I would also confirm that neither myself nor any other directors of Enterprise Group have any ongoing involvement in the running of EMS and there is no operational relationship between us.

EMS was sold on the basis that the name would be changed to reflect the new ownership and I presume this will happen in the near future.

Michael Clapper

Chief executive officer,

Enterprise Group

Edgware, Middlesex


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