Openwork says exodus was not due to dispute

1 February 2010 | By Natalie Thomas

Martin Davis, chief executive of Openwork, has rejected claims that internal disputes were behind the departure of three of the network’s directors last week.

As Mortgage Strategy Online exclusively revealed last Thursday governance director Michael Burne and development director Gerard Moore have left the network.

Sales director Andy Ferns is also leaving but will stay on to help with Openwork’s three-year strategy in implementing the Retail Distribution Review.

Paul Mitchener will assume Burne’s responsibilities and will also deal with Openwork’s compliance and complaints divisions.

The news that the three directors were set to leave the network emerged ahead of its annual conference in Birmingham. The management changes come in addition to a new business strategy that will see the network offer three business models - single-tie, multi-panel multi-tie and whole of market.

Davis says he cannot discuss the precise nature of the directors’ departure for contractual reasons.

But he adds that all three outgoing directors were instrumental in developing Openwork’s RDR strategy and does not believe their decision was down to internal politics.

Davis says: “It’s up to them to say why they left but I don’t think it was down to politics. Ferns is going to support us in the next stage of our strategy with regard to the IFA proposition. Burne and Moore joined the company a short time ago and were consultants before that. They may simply have decided that this is not where they want to be.”

Burne and Moore joined Openwork in January 2009 while Ferns has been there since it opened for business in June 2005.

Davis was appointed as chief executive last July, replacing Keith Carby.

One source tells Mortgage Strategy that the departures could be linked to Carby who is said to be setting up a network.

The source says the directors timed their departures ahead of Openwork’s conference for “maximum impact”.

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