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Steven Crawshaw appointed CML chairman

Bradford & Bingley group chief executive Steven Crawshaw has been appointed chairman of the Council of Mortgage Lenders for 2008.

Crawshaw succeeds Jon Pain, former managing director of Cheltenham and Gloucester.

Barclays managing director of home finance Mark Parsons and Bank of Ireland personal lending managing director Richard Brown have been appointed deputy chairmen.

Crawshaw has been group chief executive at Bradford & Bingley since March 2004 and has previously held positions at Cheltenham and Gloucester and Lloyds TSB.

Crawshaw says: “Looking ahead, 2008 will be an uncertain year for the mortgage industry and lenders will continue to respond to funding constraints. But it is entirely possible that the market will recover sooner than expected.

“One of the CML’s main challenges this year will be making sense of the aftermath of the 2007 events and ensuring policymakers and commentators are accurately informed on the market environment as it evolves.”


Axa slaps six month notice period on life and pensions property funds

Axa has deferred redemptions from its retail life and pensions property funds for up to six months in a bid to deal with falling liquidity levels.The firm follows Aegon Scottish Equitable, Scottish Widows and Close Investments, all of which suspended redemptions from their property funds in recent weeks.Axa Investment managing director Ian Colquhoun says: “Given […]

Northern Rock management team bid details emerge

Details of the independent rescue bid headed up by Northern Rock management team have emerged, with director Paul Thompson to meet the bank’s big shareholders this week in a bid to drum up support.The Financial Times says that Thompson – a former investment banker and chief executive of Resolution Life – will discuss a proposal […]

Bank robbery

Bertolt Brecht said: “It is easier to rob by setting up a bank than by holding up a bank clerk.”

Friends to sell F&C and Pantheon but retain Sesame

Friends Provident is to sell F&C, high-net worth IFA firm Pantheon and wealth management arm Lombard and cease development of its wrap in a massive group restructure announced today.


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