With the proposed takeover of Portman BS set for August 2007, Nationwide has announced a restructure of its operations, with the formation of a team dedicated to specialist lending and the broker market.
The team will be headed up by Matthew Wyles, currently group development director at Portman. He will begin his new role as group executive director at Nationwide following the proposed merger. The appointment marks the first time the lender has recruited a person dedicated to intermediated mortgage business to the main directorial board.
Wyles said: “These appointments underline the importance Nationwide Building Society attaches to its intermediary and specialist lending businesses. By bringing the divisions closer together we will deliver a much more focused effort in the broker market as a whole. The combined people, resources and relationships of Nationwide and Portman will create exciting synergies. We will retain and build on the best of each lender’s proposition.”
As part of the group restructure, Peter Leydon has been appointed divisional director of intermediary markets. He added: “Brokers are central to Nationwide’s distribution strategy and it is incredibly important to us that we continue to up our game.”
Alan Lakey, senior partner at Highclere Financial Services, said: “This seems like a move in the right direction and should represent a sea change in the way Nationwide deals with mortgage intermediaries.”
