HBOS says it plans to keep all five of its mortgage brands and is hinting that it could set up a sixth brand.When asked by brokers at a conference for its top 20 intermediary partners this month whether any of its brands would be merged, the response was a firm no, with the company saying it wondered whether it had enough brands. Some brokers at the secret meeting also questioned the role of TMB, saying they did not understanding the difference between the packager-led brand and BM Solutions. Intermediaries say HBOS could use a sixth brand for a new equity-release offering, after admitting it is considering a move into the market, or use a new channel to house any intermediary-only products. Spokesman Matt Grayson says: “We have no current plans to launch a new brand but nothing is ruled out and nothing is ruled in at the moment. HBOS is very successful and is growing.” TMB managing director Nigel Payne says: “We have sought to distinguish our role by making it clear that we primarily distribute via packagers whereas BM primarily deals via direct brokers.” Chase de Vere Mortgages director Nick Gardner says: “There are logical reasons why HBOS may decide to launch a new brand. If they put specific products that were exclusive to intermediaries via a new brand, then it would help intermediaries and mean that they could have one speed-dial button to that centre.”
Eden Financial has appointed Curtis Childs as its new director responsible for private clients and wealth management.Childs joins from Dryden Wealth management, formerly Prudential-Bache International, where he has held a variety of roles, and has 16 years of investment management experience. Eden Financial’s chief executive David Bearman, says: “This is a major investment in our […]
Success on Aim can depend on having the right culture as well as having good growth prospects. That means a willingness to accept change and be ready for outside scrutiny from an expanded base of stakeholders. In some instances, businesses are just not at the right stage of their development or have insufficient management skills […]
Back in the mists of time, the original proposals for mortgage regulation envisaged lenders taking responsibility for brokers – a paper called CP98.
Credit Suisse Asset Management believes the recent restructure of its multi-manager ethical fund will enable it to benefit from the trend towards companies reinvesting for growth rather than paying dividends.
Rob Burnett, Head of European Equities Although slightly down on their previous election result, Syriza managed to win just over 35 per cent of the vote in Sunday’s election, seeing off the challenge of New Democracy. While this is still short of a majority, Syriza will once again go into coalition with the nationalist Independent […]
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology