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Stonebridge targets recruitment to fuel growth

Mortgage and insurance network Stonebridge Group is looking to expand its recruitment and development programmes to build on the growth it experience in 2012.

Stonebridge saw its mortgage lending business grow by 23 per cent in 2012 but says it needs to recruit further in order to maintain this level of growth.

The business recruited 16 appointed representatives in 2012 to bring its total number of ARs to 83 and it plans to add to this number of the course of 2013.

Stonebridge Group managing director Richard Adams says: “We intend to build on these achievements in the coming year and the tweaks we have already made to our business such as the enhancement of our sales support team should enable us to do this.

“There are other encouraging signs that banks may begin to regain their lending appetites in 2013 and this would certainly help us achieve our objectives. Most market commentators seem to have predicted that UK mortgage activity will be up by around £10bn over the coming year and there is every reason to believe that networks and intermediaries can account for a fair proportion of that.”


Countrywide set for flotation

Estate agency group Countrywide is set for a stock market flotation by its US private equity owner Oaktree Capital. The Financial Times reports Oaktree has begun discussions with Goldman Sachs and other banks about launching an initial public offering for Countrywide, possibly this year. Countrywide, which includes brands such as Hamptons International, Churchills and Bairstow […]


Lloyds pledges £6.5bn to first-time buyers in 2013

Lloyds Banking Group has committed to lend £6.5bn to first-time buyers by the end of 2013 which is expected to help 60,000 new borrowers. In July 2012, the Group committed £5bn towards helping FTBs by the end of the year. Lloyds Banking Group mortgage director Stephen Noakes says: “Our range of products is continuing to […]

Odey unveils long/short Orion fund for Markus Rezny

Odey Investments has launched an unconstrained global fund for portfolio manager Markus Rezny, who joined the company last year from Griffin Capital Management. The Dublin-domiciled Odey Orion fund, which started trading this week and is Ucits structured, will invest globally across a diverse range of asset classes to achieve long-term capital growth. It is able […]

FSA bans fund manager and two traders for market abuse

The FSA has banned a Swiss fund manager and two traders for market abuse and hit them with fines totalling more than £1.5m. Stefan Chaligné, a Swiss-based hedge fund manager, has been fined £900,000 plus £308,005 of extra financial benefit he gained. Patrick Sejean, a former senior salesman on Cantor Fitzgerald Europe’s London-based French desk, […]


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