The name change follows extensive research commissioned in Q4 2009 in both the B2B and B2C sectors.
Derived from the French word 'portillon', meaning the security gate in front of a castle, the new name passed various tests of positive association and recall.
To this end, Portillion is pleased to also announce the following Board and senior management appointments:
•Gerald Gregory, previously a director of Britannia Building Society, is non executive chairman;
•Ronnie Baird, previously a director of the FSA, is senior non executive director and chairman of the Audit Committee;
•Stephen Knight, previously executive chairman at GMAC RFC, is chief executive officer;
•David Hill, previously chief financial officer and chief executive officer at Stroud & Swindon Building Society, is chief financial officer;
•David Kindred, previously head of decision sciences at Lloyds Banking Group, is chief risk officer; and
•Philip Dearing, previously chief executive officer at Market Harborough Building Society, is savings director.
Gerald Gregory, non executive chairman, added: “The board, management team and governance structure that has been put in place at Portillion is as good as I have seen anywhere in the industry. When the time is right for us to launch, I am sure we will improve choice and benefits for customers.”
