RPS quits rent-back as two senior staff leave
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Residential Property Solutions has left the sale-and-rent-back market following the resignation of two senior members of staff.
Managing director Pete Thomson and head of operations Guy Todd are leaving the firm in June to set up their own company.
It is not clear whether RPS will continue to offer any other services now that it has ceased rent-back activity.
Thomson joined the firm when it launched in May 2009 as sales director before being promoted to managing director in February 2010.
Todd was appointed head of operations in November 2009.
Peter Beaumont, chief executive at RPS Capital Partners, the parent of RPS, says: “We are pulling out of the rent-back sector following the resignations of Thomson and Todd.
“We took the opportunity to conduct a strategic review and consequently decided to leave the sector. Rent-back is just a small part of what we do.”
Beaumont, former deputy chief executive of Mortgages PLC and Trevor Pothecary, former chairman of Mortgages PLC, launched RPS in May 2009.
It received full authorisation from the Financial Services Authority for rent-back activities in July 2010.
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