Newcastle 125/8 Regulatory News (NBSR)

7 Apr 2006 07:28

Newcastle Building Society07 April 2006 NEWCASTLE BUILDING SOCIETY ANNOUNCES RETIREMENT OF ROBERT HOLLINSHEAD, CEO Robert Hollinshead has announced a decision to take early retirement from theposition of Chief Executive Officer of Newcastle Building Society, due to poorhealth. He will leave on June 30 2006 and will be succeeded by Colin Seccombe,the current Finance Director at the Society, who has been appointed ChiefExecutive Designate. Robert, 51, has been with the Society since 1992 and has been Chief Executivefor the past eight years. Under his leadership the Society has developedsignificantly with assets under management doubling from £1.94 billion in 1998to in excess of £3.86 billion today. Newcastle is the 13th largest buildingsociety in the UK. Robert has also spearheaded the Society's successful expansion in a range ofnon-traditional areas including the launch of outsourcing services and productpartnerships with other major financial services companies and major brands. Chris Hilton, Chairman of Newcastle Building Society, commented: "It is with great sadness that we will say farewell to Robert - he has been asuperb CEO and has contributed tremendously to the Society. "Under Robert's leadership the Newcastle has built a reputation as one of themost innovative building societies in the industry, and a leader in technology.The Newcastle was the first building society, for example, to offer onlinesavings accounts. "It was also Robert's vision to embark on a strategy of offering our market-leading services to third parties. Our outsourcing arm, Newcastle StrategicSolutions Limited, launched at the end of 2002, has grown dramatically over thepast few years at a time when margins have been squeezed for traditionalbuilding society business. Partnership agreements have been signed with a numberof prestigious companies, including Bradford & Bingley. "Testimony to Robert's achievements is also in the number of awards the Societyhas won recently, including the Mortgage Finance Gazette's Innovator of the Yearaward three times in succession. It is also fitting that last year MortgageFinance Gazette recognised his role with the Leadership Award. Most recently, atthe end of March this year, Newcastle Strategic Solutions was named BestOutsourcing Partnership of the Year at the Financial Sector Technology awards2006." Robert Hollinshead said: "I have thoroughly enjoyed my time at NewcastleBuilding Society and it has been immensely satisfying to see the progress thatwe have made in so many areas. However, after 14 hard but successful years atNewcastle, and having taken some advice from my doctor, I have decided to takean early retirement and move permanently to my family home in Suffolk. "I know I leave the Society in capable hands with my successor, Colin Seccombe.Colin has been Finance Director and valued member of the board for the pasteight years. I am confident that the changeover between us will be seamless andI wish him well in his new role." ENDS Notes to editors: For further information please contact: Rik Kendall Charlotte O'Brien/John WriglesworthMedia relations manager The Wriglesworth ConsultancyNewcastle Building Society 020 7845 7900/ 07703 258 488 (CO'B)0191 244 2024 / 07765 302701 Robert Hollinshead Robert Hollinshead joined Newcastle Building Society in 1992 as FinanceDirector. He became Operations Director in 1997 and then Chief Executive in1998. Under Robert's direction the Society has developed a strong culture ofinnovation, technology and staff development, which has helped it maintain acompetitive edge in today's increasingly competitive market. Colin Seccombe Colin, 53, joined Newcastle Building Society in 1997 in the role of financedirector. Prior to this Colin was a Senior Audit Partner with accountantsKPMG. He has a wide knowledge of finance and of working with other buildingsocieties and high profile organisations within the wider financial servicessector. Key developments at Newcastle Building Society under Robert Hollinshead • Innovation: - The Newcastle has been instrumental in developing guaranteed structured products. In 1999 it introduced a building society account where returns are linked to a leading UK house price index, and where the original capital invested is guaranteed. - At the end of 2002 it became one of the first societies to successfully complete a £210 million commercial loan book securitisation. - Over the past decade Newcastle Building Society has built up a high quality commercial lending portfolio. • Technology: - The Newcastle was one of the first building societies to launch an Internet Savings account - NewcastleNet Savings - and now offers an integrated wealth management proposition including an online funds supermarket and share dealing service. - Newcastle offers white label websites and online solutions for third parties through Newcastle Mortgage Service Ltd and Newcastle Savings Management Ltd. - Innovative use of technology: In 2001 the Society introduced a "Workflow" system, increasing the Society's ability to manage capacity and high volume workloads. The Newcastle offers this increased capacity to third parties looking to outsource core skill services in the form of its subsidiary Newcastle Strategic Solutions Ltd, launched in late 2002. • Partnerships: - Through the Society's Solutions Business a number of prestigious partnership agreements have been signed. In 2004 the Newcastle launched an Internet savings account for Bradford & Bingley. In 2005 similar agreements were signed with two more leading financial institutions. In July last year the Newcastle entered into a co-operation agreement with a prestigious non-financial brand to provide savings accounts to their Customers. • Staff: - The Newcastle was the first UK Building Society to be awarded the Investor in People kitemark in recognition of its commitment to staff development and training. It has now held the accreditation for more than 12 years, and in 2002 it was named "Best Large Company" in the IIP Outstanding Practice Awards, sponsored by Business Link and the Learning & Skills Council Tyne & Wear. - During Robert's time at the Newcastle staff numbers have also risen from around 550 to more than 850. The Society is a major employer in the North-East. • Awards: - In 2004 Robert won the Mortgage Finance Gazette's Leadership Award. This was in recognition of his success in cultivating a culture of innovation and technology throughout the Society. The achievement came after being named Mortgage Finance Gazette's Innovator of the Year three years in succession. At the end of March this year Newcastle Strategic Solutions was named Best Outsourcing Partnership of the Year at the Financial Sector Technology Awards. In December 2005 the Newcastle became the first building society, and indeed one of only a few financial institutions, to have its Information Security Management system accredited with the international benchmark BS7799. ABOUT NEWCASTLE BUILDING SOCIETY Newcastle Building Society is the biggest building society based in the NorthEast and one of the strongest mutual building societies in the country. Withassets under management of over £3.86bn we are certainly large enough to competebut small enough to care deeply about the needs of our members. We are committedto providing a range of innovative and attractive investment products. The Newcastle Building Society is committed to remaining mutual and by doing sowe feel we are better placed to continue to provide our investors with thequality of service expected from one of the country's strongest buildingsocieties. This information is provided by RNS The company news service from the London Stock Exchange