Nigel Payne is assuming full responsibility as managing director of The Mortgage Business replacing current md Bill Dudgeon.
Current TMB directors Bill Dudgeon, Mark Bergin, David Parry and Paul Graham are leaving the business to join Deutsche Bank at the end of September.
Deutsche has been widely tipped to enter mortgage lending business by the end of the year. Dudgeon and his colleagues are unable to confirm which role they will be assuming at Deutsche.
Former senior HBOS Executive Nigel Payne will assume full responsibility for TMB as managing director reporting to Nigel Stockton, director of HBOS Intermediary Mortgages.
Nigel Payne will be joined by two additional appointments – Peter Charge as sales director and John Nixon as director of operations.
Three other existing senior managers at TMB, John Sleigh, Robert Holmes and Barrie Knox, will all take a wider role at the business.
Stockton says: “Obviously we’re sorry to lose Bill and his team but we wish them all the very best in their new roles.”
Payne says: “I’m very much looking forward to joining TMB and taking the business into its next phase of growth. This is a new and very exciting chapter in our history. We are already planning to announce some extremely exciting developments in the next 8 weeks.”