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Rumours end as BM make Bolton MD

Mortgage heavyweight Michael Bolton has been promoted to managing director of BM Solutions after months of speculation over his possible departure.

Bolton is understood to have been approached by several big lenders but has confirmed he will be staying with BMS in the new role. The former head of mortgages at the specialist lender will also have the added responsibility for Halifax intermediaries.

His role as MD at BMS will be to oversee the mortgage business, including processing, marketing and sales. He will also be responsible for 120 sales consultants at Halifax and BM Solutions. Bolton will report to HBOS managing director of mortgages David Nicholson and HBOS head of external sales Grenville Turner.

Bolton joined BMS in 2001 after three years at Future Mortgages as head of marketing. He previously worked with the UCB Group/Home Loans and as a mortgage adviser at Charcol.

Bolton says: “BM Solutions acknowledges that intermediaries are the most imp- ortant part of the business and I am scathing about those lenders who claim to be intermediary-friendly but are not, specifically the majority of lenders which got it wrong at M-Day, particularly when KFIs could not be produced for ported products.”


Crombie hands back his £500,000 bonus

Standard Life group chief executive Sandy Crombie has won plaudits from IFAs for turning down a £500,000 performance bonus. In a rare piece of positive PR over Standard Life’s executive remuneration packages, Crombie has been praised by some of his fiercest past critics. Crombie refused the bonus, believing it would have been inappropriate after what […]

Mortgage View

In May we heard initial details from Gordon Brown on the Governments “Homebuy” scheme. The timing was interesting as the closing date for the consultation was a month later, leaving the suspicion that the consultation process was a charade. More details have now been released on this Government initiative for helping some FTBs. Unfortunately the […]

Investment View

A New Year, new opportunities. The chairman of the curiously named Betelgeuse Investment Funds gazed out across the rain-lashed Thames from behind the protection of his plate-glassed office. This view would not be his to enjoy for much longer, he mused. Even assuming that his business could maintain its independence during a period when he […]

FSA drops threat over splits for firms in £194m fund deal

The 18 firms that have signed up to the FSA dealAberdeen Asset ManagersABN AMRO EquitiesBrewin Dolphin SecuritiesBritannic Investment ManagersCollins StewartEdinburgh Fund ManagersF&C Asset Management (formerly Isis)Framlington Investment ManagementGartmoreGovett Investment Management now AIB Investment Management)HSBC Investment Residuary(formerly HSBC Investment Bank)Jupiter Asset ManagementLegg Mason Investments (Europe)Morley Fund ManagementNew Star Asset ManagementPremier Fund ManagersRoyal London Asset ManagementUBS AG […]


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