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Nationwide confirms broking arm details

Nationwide has announced further details on how its prime intermediary arm will operate following the planned merger with Portman Building Society on August 28.

The lender will be recruiting a substantial salesforce to commensurate with the size of the newly merged organisation. The team will report into a newly created position of head of sales for prime intermediary lending which has yet to be appointed.

Nationwide’s intermediary support team – currently based in Swindon – will be relocated to Portman’s headquarters in Bournemouth over a phased period.

Portman group development director Matthew Wyles will become executive director at Nationwide with responsibility for non-retail business.

Wyles says: “Intermediaries are at the centre of our vision for the future. Our new broker development sales force is a key element of a three year strategic development plan which will revolutionise Nationwide’s systems and service delivery to the
intermediary mortgage market.”

Divisional director of intermediary markets Peter Leydon adds: “This
announcement is tangible evidence of the Nationwide’s absolute commitment to intermediaries. My management team and I will assemble, during the coming months, a substantial and highly effective sales force to support the thousands of firms up and down the country who want to do business with Nationwide.”

Reporting directly to Leydon will be: Head of corporate development Joe Rabbitt who is currently head of intermediary development at Nationwide and head of support Peter Saint Ruth who is currently a senior manager within intermediary markets at Nationwide.


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