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Leading North-East banker joins Newcastle BS board

Newcastle Building Society has further strengthened its board with the appointment of David Holborn as a non-executive director.

Holborn, 55, is the area director for Lloyds TSB in the North, which covers the Scottish Borders, Northumberland, Tyneside, Wearside, Teesside, Cumbria, and as far south as Leeds and Bradford.

He will bring considerable experience and expertise to the position.

Holborn says: “Newcastle Building Society is a strong and growing organisation and I am looking forward to joining the board at such an exciting time.

“I think what I can offer the Newcastle is the experience of running a sizeable business, which includes more than 2,500 staff and 200 branches. I also have considerable commercial lending experience, another important growth area for the society.”

Holborn joined Lloyds Bank in 1965 in his home town of Louth in Lincolnshire and has been in management since 1977, with posts in the West Midlands, London, Wiltshire and Hampshire, before taking up his current position in Newcastle in 1994.

He is a fellow of the Chartered Institute of Financial Services and a past president of both the Bournemouth and Newcastle-upon-Tyne centres. Outside of banking he is also a council member of the Chamber of Commerce for Tyneside, Wearside and Teesside.

Chris Hilton, chairman of Newcastle Building Society, says: “The next few years will present numerous challenges and opportunities to the financial services sector. To have someone of Mr Holborn&#39s experience and ability on the board will be a huge asset and will help ensure the Newcastle remains at the forefront of the industry.”


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By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.


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