Earlier this year, Bradford & Bingley appointed CMSL to manage its £30bn mortgage portfolio.
Today’s announcement will now see Richard Banks step down as chief executive of Bradford & Bingley to become chief executive of CMSL, with Ian Hares becoming the new chief executive of Bradford & Bingley.
Meanwhile, Richard Pym will step down as chairman of the lender and will be replaced by John Tattersall, with Richard remaining on the Bradford & Bingley board for a short period.
Kent Atkinson also steps down from the board as a senior independent director, with Sue Langley taking over, while Brendan McDonagh becomes chair of the audit committee, and Keith Morgan moves to chair of the risk committee.
“The outsourcing of our mortgage servicing activities to Computershare is good news for customers and for colleagues,” said Ian, who is also the chief executive of UKAR (UK Asset Resolution Limited).
“I look forward to continuing to work closely with Richard Banks and the mortgage servicing team as we focus UKAR on maximising value for taxpayers.”
CMSL’s seven-year outsourcing contract will cover £30bn of assets with UKAR continuing to own and have responsibility for Bradford & Bingley’s mortgages and loans.
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