View more on these topics

Ex-Abbey and Kensington boss prepares to launch new bank

Former Kensington chairman and ex-Abbey chief executive Peter Birch is understood to be seeking private equity backing from Blackstone to launch a new bank.

Ex-Pink Home Loans chief executive officer Barry Meeks, former Tesco Personal Finance chief and Royal Bank of Scotland director Stuart Sinclair, and Kensington founder and ex-Trigold chief Martin Finegold are also involved in the new launch, which will be called The Home and Savings Bank.

The company, which is expected to target the mortgages and savings market, has reportedly applied for a banking license with the FSA and is awaiting approval.

Birch was chief executive of Abbey for 15 years and was also part of the team put forward by JC Flowers in its failed bid for Northern Rock.

Sky News reports that the new venture has already raised £250m from investors.

Recommended

1

Mandelson wants sense of proportion from FSA

Business Secretary Lord Mandelson has called for “a sense of proportion” at the FSA and urged the regulator to take a step back and work with the EU to collectively define the regulatory system.

Kelsall to replace Standard marketing chief Gillespie

Standard Life marketing director Andrew Gillespie left the firm last week and will be replaced by Bruce Kelsall. Standard has also appointed Ronnie Taylor as director of intermediary partner propositions, taking over responsibility for its platform from Geoff Towers. Towers is focusing on his role as marketing director for Standard’s established affluent client base. He […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com