Countrywide and Mortgage Advice Bureau are to recruit 25 advisers and a sales director to spearhead their new high net worth brokerage.
The firms announced last week that they will launch Capital Private Finance on August 1 which will handle all referrals from Countrywide’s premium estate agency brands Hamptons International, John D Wood & Co, Faron Sutaria and UK Sotheby’s International Realty.
Peter Brodnicki, chief executive of MAB, says: “The business will act as a separate legal entity and advisers will work in branches of Countrywide subsidiaries.”
Nigel Stockton, financial services director at Countrywide, says: “We feel the private finance market has been under-capitalised and intend to attract the best consultants in the industry.”
First Action Finance was acting as the referral partner for Hamptons International until this deal was struck.
But Joe Cohen, managing director of First Action Finance, says: “We wish them every success in the new venture. We are in discussions with a number of other agents and the end of our deal with Countrywide means we can now focus on these.”