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Namba chief executive Jennings quits

The chief executive designate of the National Association of Mortgage Brokers and Advisers Julian Jennings has resigned amid industry speculation about his role in the demise of Century Mortgages.

Jennings, who was compliance consultant to the lender when it was shut down by the DTI in 1999 for compliance failings, says he is stepping down due to the press scrutiny since his involvement was uncovered earlier this year.

He says he made a mistake in appointing himself chief executive as he underestimated the impact his past would have on his efforts to get the trade body off the ground.

A replacement is being sought, with Scottish Amicable national mortgage manager John Malone thought to be among the favourites.

Jennings says: “A trade body must be credible and respected and as my copybook has been blotted in the industry and the press it is not tenable for me to its front man. I am putting the interest of Namba first.”

Charcol senior technical manager Ray Boulger says: “It is the right decision. I respect him for resigning now as he realised it was not possible for Namba to work with him at the helm.”

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