Lehman Brothers has unveiled plans to challenge HBOS in non-conforming mortgages after merging two subsidiaries to create a non-standard giant.The firm wants to be market leader in the non-standard sector and claims it is already number three after amalgamating Preferred and SPML’s operations. It says London Mortgage Company, which it recently acquired, could join the fold and has not ruled out more acquisitions. Each of the brands will be maintained with separate salesforces to compete against each other. Lehman, which has appointed Global Home Loans chief executive Simon Hinshelwood as chief operating officer of its mortgage division, has yet to decide whether to merge Preferred and SPML geographically or whether any staff will be cut. Lehman Brothers European Mortgage Capital Division chief executive Bill Bilsborough says: “Acquisition is part of our strategy. We are a multiple brand organisation.” Pink Home Loans managing director Tony Jones says: “There may be some overlap but as long as they have a clear proposition it will be received well by intermediaries. They will have learnt a lot from the HBOS model with distinctive brands.”
Pension providers shunned Northern Ireland IFAs in the run-up to A-Day with many getting no training until after April 6, says Whitechurch Network. Compliance technician Nick Cunningham says several IFA firms rang Whitechurch Network at the beginning of April asking for training because they had a lot of unanswered questions about A-Day. Cunningham went to […]
M&G recently offered readers the chance to win an exclusive day out at Royal Ascot races to mark the 75th year since M&G launched the UK’s first unit trust. Melvin Pye of Smith & Pinching Financial Services and Mark Rowe-Ham from Brewin Dolphin Securities each win a pair of tickets to spend the day in […]
William Lam has been appointed to join Invesco Perpetual’s Henley-based Asian equities team.Lam, who joins the team on May 22, will help to selectstocks from Taiwan and Korea across all funds managed by the Asian team.Lam was formerly an analyst at Orbis Investment Advisory, specialising in the global telecoms and technology sectors.
Leeds Building Society has launched a three year base rate tracker mortgage which is currently only 4.5 per cent, allows unlimited capital repayments without penalty and has no higher lending charge.
Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]
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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