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Kensington picks its new chief exec

Sub-prime lender Kensington has appointed a new chief executive and non-executive chairman as founder Marty Finegold steps down from both positions to concentrate on IF Online.

John Maltby is the new chief executive of Kensington Group, the parent company of Kensington Mortgage Company, from August.

He is currently with Abbey National Treasury Services and has been executive dir-ector of Abbey subsidiaryFirst National. Finegold will continue to serve as a non-executive director.

The non-executive chairman is Peter Birch, who was chief executive of Abbey National from 1984 to 1998, overseeing its flotation in 1989. He previously held a number of positions with Gillette UK.

Maltby will lead Kensington towards its intended float on the London Stock Exchange in the next six-12 months. It has appointed Schroder Salomon Smith Barney as its financial adviser for the flotation.

Kensington says it is one of the leading mortgage lenders to non-conforming borrowers in the UK. It has made more than 25,000 loans, totalling over £1.8bn since it started in September 1995.

Maltby says: “I am very excited to be working in a growing market with a very successful business. Now we have to build the right team and approach for the float.”


Inter-Alliance pens deals to allow further growth

Inter-Alliance has teamed up with online credit card company Marbles and to extend its e-business activities. Already linked with Freeserve and, the Inter-Alliance-Marbles partnership, launched last week, will give users access to the Inter-Alliance Isa Centre and fund supermarket. Its coupling with online investors resources site,, will lead to a co-branded website […]

The next generation of potential high-flyers is being targeted by Royal & SunAlliance International&#39s student accommodation fund

The fund is an offshore open ended investment company, designed for growth by investing in accommodation for students. The product will invest in an existing fund managed by Brandeaux managers, which purchases existing university halls of residence and leases them back to the universities.Royal & SunAlliance International claims that, with many universities now pressed for […]

Skandia offers link to Aberdeen unit trusts

Skandia Life has announced plans to offer investors links to two Aberdeen Asset Management unit trusts. The funds are the top performing Global Technology Fund and the European Technology Fund. Like all other funds in the sector, both funds have taken a beating recently, but over the last year, the Global fund has returns of […]

Government pledges changes to annuity rules by end of the year

The Treasury has promised to change annuity regulations, including emphasising the open-market option, before the end of the year.The move comes in response to repeated calls from the industry and Opposition parties for changes to make annuities fairerfor consumers.Treasury Economic Secretary Melanie Johnson says she will consider making changes on a number of annuity issues […]


Five ways to make your employee focus group session a success

by Debra Corey, group reward director  You just planned and booked what you thought was the perfect vacation for you and your family. You call everyone together to share the great news and instead of receiving sounds of glee and delight, you receive groans and complaints.Your youngest says: “I hate beaches, didn’t you know that?” (You think to […]


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