Mortgage Strategy can today reveal that Deutsche Banks Colin Vidler is the man charged with constructing the groups new UK specialist lender.
Vidler is a business manager in Deutsche Banks securitised products group and has been given the responsibility of launching the new lender later this year.
Patrick Day, former managing director of packaging network Exclusive Connections, is believed to have been advising Vidler in a consultancy capacity.
Day quit Exclusive Connections in September last year and was responsible for taking the group from 20 members and completions of 300m per annum to a nationwide organisation of 35 member packagers with completions exceeding 1.5bn. He now runs the PD Consultancy, a company that specialises in financial services.
During Days tenure at Exclusive Connections the group was one of the largest introducers to Chester-based lender and HBOS subsidiary The Mortgage Business – a relationship that could go some way to explain why Deutsche Bank pounced on TMBs fab four.
Earlier this year Deutsche poached TMB managing director Bill Dudgeon, sales director Mark Bergin and fellow TMB directors David Parry and Paul Graham to spearhead the launch of the new specialist lender. All four are still employed by HBOS but have been put on gardening leave
Although poaching industry bedfellows is commonplace Mortgage Strategy has also learned that the former TMB directors may have breached a solicitation agreement in their HBOS contracts after a recruitment advertisement placed by recruitment consultants Venatus Business Intelligence for a new Chester-based lender appeared in the Chester Chronicle and Mortgage Strategy magazine.
Contractual obligations in their HBOS contracts mean that none of the former TMB directors can approach current TMB employees about Deutsche Banks new proposition.
One source says: If you place a recruitment advert in a newspaper or magazine and you know that your former staff read that publication then that can be classed as solicitation.
The advert, recruiting for a marketing manager; regional sales managers; a head of underwriting; national account managers; mortgage underwriters; a mortgage product manager; a credit risk manager and an operational risk manger, read: Our client is a new lender supported by a major European Bank that is one of the worlds leaders in Financial Services The positions will be both Chester-based and nationwide.
Paul Fincham, press officer for HBOS, says: “Theres very little we can say other than we are obviously in communication with Bill, Mark, David and Paul.”
Deutsche Bank declined to comment.