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Revamp for Abbey Nat&#39s brand stable

Abbey National is set to stamp its name across its stable of companies in a revamp of its intermediary business ahead of the expected depolarisation of the market by the FSA.

The rebranding exercise, to be rolled out internally later this month, will see existing brands such as Scottish Mutual appearing under the Abbey umbrella. The move mirrors internal reorganisation of the group&#39s businesses by function rather than brand.

The move will see ScotMut, Scottish Provident, Cater Allen, James Hay and Abbey&#39s intermediary mortgages come under the remit of newly appointed Abbey National director of sales and marketing Ambrose McGinn.

The move echoes AMP&#39s decision to dual-brand its NPI, Pearl and London Life subsidiaries last year.

McGinn says: “Our research shows that there is a lot of strength in the Abbey National brand with intermediaries. The sum of the parts adds up to a considerable whole when put across all the brands.

“The decision is taken in the context of depolarisation but it is not the key driver. It says if you tie with Abbey National you get to choose from the following stable of products.”

The Abacus director Philip Martin says: “I would be amazed if IFAs perceived the Abbey National name warmly as it is associated with bancassurance and therefore direct competition. Changing the label does not change what is in the tin.”

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