Former Abbey group FD Mark Pain will serve with the newly-created Northern
Rock as a non-executive director.
Pain, a former group FD of Barratt
Developments, takes on the role as Northern Rock splits into a new
mortgage-taking business, and one containing its historic debts and loan book.
Rock will be split into: A new customer savings and mortgage bank
known as Northern Rock, which will also hold some of the previous incumbent’s
wholesale deposits; and Northern Rock (Asset Management), which is effectively
the existing company’s residential mortgage book that will be regulated as a
mortgage provider but not a deposit taking bank.
NRAM will hold all unsecured loan accounts, the government loan and the
current wholesale funding and debt instruments, and mortgages allocated to the
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016