Moneyquest restructures business

MoneyQuest has revamped its business by taking on 150 new staff, expanding operating hours and restructuring its board.

The move was revealed by newly-installed managing director Paul Reynolds at the official opening of the Scottish mortgage insurance and loan brokerage’s new headquarters in Glasgow. Reynolds was formerly operations director at the firm.

Previous managing director Steve Pollard is to become the company’s first chief executive officer, focussing on the expansion and diversification of the business in this country and overseas.

Last year the brokerage grew by 30% achieving over 8.5m in turnover for 2006 and has since set an annual target of 3bn of mortgage business.

Pollard says global expansion is on the cards.

He adds: “MoneyQuest is a financial service company at heart but we also have a search engine arm which operates throughout the UK and the US, and we plan to expand this to other countries.

“I have been responsible for initiating and driving the technology and internet objectives of moneyQuest and my move to CEO will allow me to focus on the strategic direction of this part of the business.”

Steven Purcell, leader of Glasgow City Council, was at the opening of the headquarters.

He says: “MoneyQuest’s plan to create 150 jobs in Glasgow and locate its headquarters here is great news. This supports the good work going on locally and will allow even more people to share in the city’s economic success.”