Thompson is expected to join L&G in mid-August following negotiations between L&G and Paymentshield as to his official departure date. He has already been on gardening leave for a month due to his defection to a direct competitor.
register for 'adviser finder' here
L&G has already announced Thompson’s appointment to its lenders and Stephen Smith, director of housing at L&G, commented: “Thompson will be joining the Legal & General Mortgage Club as mortgage director in the near future. Final details of dates have yet to be agreed.
“We look forward to having him on the team and to having his experience and enthusiasm to help us drive our plans forward.”
Thompson had been with Paymentshield for three years and was hired to set up its mortgage club. Chris Traynor, sales and marketing director for Paymentshield, said he had done this extremely efficiently and added: “Thompson has been offered an exciting opportunity and despite trying to retain him, we can see why this is an opportunity he can’t turn down. We’re sorry to see him go.”
get the daily news delivered to your inbox
Alan Cleary, manging director of edeus, commented: “Thompson’s done a good job at Paymentshield and no doubt he will be a good asset for L&G. He fits in that role very well, as he has very good relationships with lenders, such as us, and that’s half the battle in that job. You have to have credibility with the lenders in order to negotiate good products.”
