Newcastle8%pibs Regulatory News (MBSR)

26 Sep 2006 14:14

Manchester Building Society26 September 2006 Immediate Release Mortgage Broking Services Limited appoints a new Managing Director Mortgage Broking Services Limited ("MBSL"), a wholly owned subsidiary ofManchester Building Society, announces the appointment of Tony Corrigan as itsnew Managing Director, with effect from 2nd October 2006. The move follows theappointment of Ian Richardson, the current MBSL Managing Director, to the boardof the Society where he also holds the position of Society Secretary. Tony is joining MBSL from another Manchester based network, where he commanded asimilar role and it is felt his extensive experience and specialist knowledge inthe sector will make a major contribution to the ongoing success of MBSL. Themove follows MBSL's recent announcement of a reduction in its charging structurefor members. Society Chief Executive David Cowie commented: - " We are delighted to have recruited Tony. He has the breadth of knowledge tomove MBSL strongly forward and his emphasis will be towards highlighting thecompetitiveness and degree of broker support provided by the MBSL proposition " Tony Corrigan commented: - " I am delighted to be joining the team at MBSL and working with a network thathas the financial backing of a large institution such as the building society.This is a significant benefit to the network, as I see financial strength asfundamental in the ever-changing world of financial services. It will help thebusiness to adapt and react quickly to enable development and consistent growthof the individual broker businesses within the Network and also the Network as awhole." --- End--- Footnote: a) MBSL was established in March 2004 and is a wholly owned subsidiary ofManchester Building Society, the 30th largest Society in the UK, with assets ofover £600 million at 30th June 2006. This information is provided by RNS The company news service from the London Stock Exchange