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N&P chief Bullock is new BSA chairman

Norwich and Peterborough Building Society chief executive Matthew Bullock has been elected chairman of the Building Societies Association.

He replaces Nationwide Building Society chief executive Philip Williamson, who has held the post for the past year.

Before becoming chief executive of N&P in 1999, Bullock had a broad banking career.

Yorkshire Building Society chief executive Ian Cornish has taken over as deputy chairman from Bullock for the year.

Bullock says: “I look forward to an interesting year. The impacts of Basel II and of the FSA’s drive towards principle-based regulation will require much fresh thinking on the structure of the mortgage market and on a new compliance architecture. Key elements in the latter will be defining consumers’, distributors’ and producers’ responsibilities in investment and lending markets; defining evidential provision in individual cases of complaint and in enforcement, and achieving all this in a way that lowers the costs of regulation. The contribution of mutual building societies to these debates will be important.”


Sandler joins Paternoster as chairman

Ron Sandler, the former architect of the Government’s plans on savings simplification has joined Paternoster as chairman.Sandler, who was also the chief executive of Lloyds of London joins the new life assurance venture which is awaiting approval from the FSA.He is also the chairman of Computacenter plc, the Kye Group and Oxygen plc.Sandler says: “It […]

Broker highlights overseas mortgage market problems

Brokers and lenders have come in for criticism for profiteering and failing to give proper advice on overseas mortgage applications. Overseas specialist broker Conti Financial Services managing director Simon Conn says some providers are guilty of serious abuses by advising consumers to remortgage and use the cash to buy abroad rather than take out a […]

‘DB liabilities are stifling shares’

Thirty-six per cent of companies feel that the increasing cost of funding their defined-benefit pension scheme is adversely affecting their share price. In a survey by Aon Consulting of 115 of the UK’s biggest DB schemes, 38 per cent were also concerned that their scheme deficits could cause their share price to dip in future. […]

De-linked MPPI product launched by Charcol

A de-linked mortgage payment protection insurance product has been launched by MPPI specialist Genworth Financial and broker John Charcol.The pair claim the product is 37 per cent cheaper than the market average, while pay-outs are also backdated to the first day of the claim following a waiting period of 30 days unlike the majority of […]

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Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


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