Brian Pitt has confirmed he is leaving Kensington Group and that the business will be now focussing on its core activities.
Both Pitt and Stuart Aitken joined the Group in August to investigate key strategic opportunities presented by the specialist lending sector.
This sparked speculation that Kensington was looking at entering the commercial mortgages arena, something it declined to comment on.
Pitt says: “I am leaving Kensington.
“I was brought in to investigate key opportunities for the Group.
“This research concluded in December and I put my recommendations to the board.
“The Group has decided not to pursue my recommendations of opportunities and will focus on core activities within the UK and Europe.”
Pitt declined to comment on what his recommendations were. Kensington was unable to comment.
Aitken’s contract with Kensington expired in December. Pitt was previously director at Beacon Homeloans and Aitken was director of credit at South Pacific Mortgage Limited.