He understood that a closer proposition between RBS and NatWest was in the pipeline and that a HBOS-style rebranding of the group, including First Active and The One account, headed up by one person and one sales force was being planned.
He said: “First Active has become a strong brand and is increasing its market offerings. The time could be right for RBS and NatWest to form a closer alliance and possibly for the whole RBS group to clarify its branding in a similar way to what HBOS has done.”
“Depending upon this happening and to what extent, it could affect the broker in two ways. The positive is a bigger market offering to brokers; they are big players and could provide attractive propositions and open up further niche areas for the intermediary to move into. The only drawback I can see is if they over-complicate the branding and confuse the broker over who is providing what,” he added.
Another source said: “I’m confident the whole channel will be headed up by one person who will look after all mortgage intermediation for the group and the name on everyone’s lips is Jayne-Anne Gadhia, the current managing director of The One account and First Active.”
Andy Frankish, managing director of Mortgage Talk, said: “There is hot speculation around regarding some kind of rebranding. I see it as a sensible and positive move. It worked very well for HBOS and I can’t see why it wouldn’t for RBS. Clarity in product sectors would be of great benefit to the broker.”
David Outhwaite, head of retail media relations at the RBS, denied the speculation. He said: “There are no changes to be made to the way we will be serving mortgage customers.”
And Louis Kaszczak, head of national partnerships at First Active and The One account, said: “I’m not aware of any of these plans.”
