Michael Bolton promoted to become managing director of BMS

Mortgage supremo Michael Bolton has been promoted to become managing director of BM Solutions.

The former head of mortgages at BM Solutions will, on top of the role of MD of BMS, also have additional responsibility for Halifax intermediaries, commanding a sales force of circa 2,000.

Bolton says: “I am delighted to be responsible for the best two intermediary brands in their respective markets.

“My job is to keep both brands at the forefront of intermediary’s minds when choosing mortgages for their clients.”

Bolton’s appointment will see a major restructure of BMS’s sales proposition. Although details are yet to be finalised, the coming months will bring extensive change throughout the HBOS intermediary sales model.

Also announced today was the appointment of Nigel Stockton as managing director of Birmingham Midshires.

Bolton joined in May 2001 at a time when BM was lending around 2.5bn gross. City sources have predicted that this year BMS will complete around 15bn, in every likelihood making it the UK’s biggest net lender for 2004.

Alan Cleary, head of sales at BMS, says: “This is obviously recognition of the outstanding contribution Bolton has made to the BMS brand.”