Mortgages plc promotes Beaumont

Amanda Jarvis

March 31, 2006

Beaumont will continue to report to Trevor Pothecary, who becomes chairman and chief executive. Pete Thomson has been promoted to sales director with Mark Harrison also being promoted to head of sales.

Trevor Pothecary said: “These promotions are part of Mortgages plc’s longer-term succession planning and it is extremely pleasing to be able to promote such strong candidates from within the business.

“During the course of 2006 my objective is for Peter to take greater control of strategic planning and the day-to-day running of the business, which will free-up more of my time to focus on my role as Executive Chairman and developing institutional relationships with other financial organisations. The constitution of the rest of the Board remains unchanged.”

Peter Beaumont added: “I’m obviously delighted to receive this promotion. Mortgages plc has come a long way in the last couple of years and I’m pleased to have played a part in helping to make the business the success it is today.

“The challenge moving forward is to confirm Mortgages plc’s position as one of the leading non-conforming lenders in the UK. We have made an excellent start under the ownership of Merrill Lynch and we now have the personnel, resources and financial backing to make a big impact on the mortgage market. It’s going to be a great 2006.”

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