GMAC-RFC denies aquisitions rumour

Ramesh Sharma

March 18, 2006

The 12 March Sunday Times appointments section ran a front-page GMAC-RFC advert, calling for a ‘director of strategic marketing and investments’.

Listing the role as researching and analysing potential growth markets, the role would include identifying acquisition opportunities, in addition to developing a senior management team to deliver future business expectations and success. The role would also include driving and co-ordinating negotiations for future investments.

An industry source told Mortgage Introducer the job showed GMAC-RFC’s desire to increase its market share and profits, but admitted his shock at the bluntness of the advert. He said: “The advert was very explicit about exactly what GMAC-RFC is looking for and its plans to look at other markets. The information was specific about growth and the fact that it would be looking at merger opportunities.” However James Cotton, mortgage specialist at London & Country, said: “There is nothing cloak and dagger about what they are asking for. Any company the size of GMAC-RFC will want to look at opportunities for future growth and investment. Most companies in the sector will be looking at potential markets, and if they can fit into them,” he said.

Paul Hunt, head of marketing at Platform, added that, with large companies dominating the market, investment opportunities would appeal to a large number of firms. “There have been a large number of multi-national organisations in the specialist sector and it is an opportunity for companies to enhance their propositions.”

Jeff Knight, director of marketing at GMAC-RFC, said: “It’s not a new position, we’ve just put it under a different title. We have never lied about our objectives, and it is business as usual for GMAC.”

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