Mark will take over from Jeff Watson on 1 October 2003, who after 34 years service retires on 30 September.
Mark, 43, has been at Abbey National business since 2002 where for the past year he has been heading up the business development side of the commercial mortgage business.
Prior to joining the bank, Mark spent three years as a senior manager with the Anglo Irish Bank, where he established one of the main regional offices. Previously, he was at the Birmingham Midshires Building society where he remained throughout the take over by the Halifax. At the Halifax, Mark headed up the commercial lending division. His main responsibilities included defining the strategic direction of the division and overseeing the 102 employees who worked there.
Gary Hockey-Morley, Director of Abbey National business, said: “Jeff has helped to establish the commercial mortgage arm as a serious player in the market, but I’m delighted that Mark can pick up the reins where Jeff left off and continue to drive the business forward.
“I would like to take this opportunity to thank Jeff for the enormous contribution he has made to the commercial mortgage arm of Abbey National business. We wish him all the best for his retirement.”
Mark Stephens said: "Abbey National business has set out to offer business customers a good value alternative to the Big Four, so this is a marvellous opportunity to lead a division that is trying to be truly different from everyone else. The commercial mortgage sector is vibrant and growing and our customers and broker partners will continue to get an excellent service and a choice of competitive products.”
