Newcastle8%pibs Regulatory News (MBSR)

12 Jun 2007 17:11

Manchester Building Society12 June 2007 MANCHESTER BUILDING SOCIETY APPOINT GROUP DEVELOPMENT DIRECTOR Manchester Building Society has appointed Paul Rumbold to the executive positionof Group Development Director. Paul will have responsibility for Group marketing and for the direction of newbusiness origination. Paul joins the Society from bridging finance specialists Affirmative FinanceLimited where he was the Marketing and Sales Director. In a distinguishedcareer, Paul has also held senior management positions at Bank of Ireland,Portman Building Society and then Cooperative Bank where Paul was recruited in2001 to set up the bank's residential mortgage lending operations. David Cowie, Chief Executive of the Society commented: "We are delighted to have recruited an experienced and capable professional ofPaul's calibre to supplement our executive team. The Society has ambitiousfuture targets and Paul will play an integral part in achieving these ambitions." Footnote to Editors Manchester Building Society is the 28th largest Building Society in the UK withtotal assets at December 2006 of £676 million, up 19.6% in the year. The Society's cost income ratio in 2006 was 37.7%, the lowest in the sector. The Society acquired Manchester based Whiteaway Laidlaw Bank Limited in January2007 from Home Retail Group. This information is provided by RNS The company news service from the London Stock Exchange