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Future changing strategy as it loses fourth manager

Future Mortgages has been hit by yet another senior management departure after communications manager Richard Hurst quit this week.

The specialist lender has seen a total shake-up of its management structure over the past five months, with chief executive Mark Abbot leaving in March, sales & marketing director Brian Pitt in April and general manager in charge of sales Clive Willson in June.

Its management structure will now be combined with that of fellow Citigroup subsidiary CitiFinancial and communications responsibilities will be taken over by CitiFinancial European communications manager Andrew Wiggins. Both companies will continue to operate under their own brands.

Future admits to a change in strategy and says it has new products in the pipeline along the lines of its recent range that targets the prime market for the first time.

CitiFinancial chief operating officer Mark Ridlington says: “We believe the Future Mortgage brand, with its combination of new products, new people and new strategy, will continue to enjoy a leading position in the marketplace.”

Mortgages plc head of marketing Julian Wells says: “The changes at Future have appeared severe from the outside but I am sure a lot of work has been going on behind the scenes to prepare for a relaunch. Despite what has happened, Future still has a good name in the market. If the new management play it right, it could have positive results.”

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