Howard said: “The restructure has been quite fortuitous as it has given me the opportunity to leave under favourable terms and I’d like to try my hand at something different.
“I don’t think I’ll be leaving the mortgage industry though. I have thirty years of experience I’m looking to capitalise on and I’m genuinely excited about the prospect of new challenges.”
Nationwide said the decision to let Howard leave was part of its ongoing focus on" streamlining business operations" and added that it had begun a review of the organisational structure of its intermediary sales division.
Currently the intermediary division is jointly managed by Ian Andrew, head of sales, and Paul Howard both of whom report to Matthew Wyles, Nationwide’s distribution director.
But with immediate effect Andrew will assume sole responsibility for group intermediary sales as managing director.
Matthew Wyles said: “Paul has done a tremendous job for Nationwide and leaves with our warmest best wishes for the future.”
And Ian Andrew added: “Nationwide remains committed to the intermediary market. We have a very strong BDM salesforce and corporate account team and look forward to further strengthening the excellent relationships we have with our intermediary partners.”
Howard joined the Portman building society in January 2002, and Nationwide in August 2007 when the two mutuals merged. He won an industry lifetime achievement award in June this year.
Howard added: “I’m leaving on good terms with Nationwide and Matthew Wyles and wish them the best of luck for the future.”
Additional reporting by Yuan Phoon.
