Job moves blamed on regulation ‘bottleneck’
Departures from senior roles within the industry this week included the heads of sales at Platform and BM Solutions, and the director of sales and marketing at The Mortgage Business (TMB).
Bob Sturges, director of communications at Money Partners, said: “The industry has gone through a huge change with regulation in the last 18 months and people have been working hard and been hanging around to see how their investments pan out.
“It has also been prompted by the recent changes in ownership and a lot of people have said their motives were partly to move away from the corporate environment that seems to have moved in.”
The major moves this week have seen Martin Reynolds and Peter Charge move from their respective jobs at BM Solutions and TMB, while Jeremy Duncan has gone from Platform to Advantage Home Loans.
However, this movement, for many in the industry, is just part of the natural process of people taking up new challenges, rather than a result of regulation.
Jeff Knight, director of marketing at GMAC-RFC, said: “It is just one of those things that people move around in the industry. There is no one particular reason and it is something which we have not experienced as we are actually nicking people from other companies. It could be coincidental but I do not think so.”
Paul Fincham, press officer at Halifax, said the senior staff movements were similar to a vicious circle. He said: “There will always be a number of reasons why people move into new jobs. When there is one move, this creates a new opening and it is like a bit of a circle.”