C&G reveals plans to create intermediary sales force

Cheltenham & Gloucester has revealed it plans to overhaul its branch-led approach to intermediaries and create an intermediary sales force.

The announcement comes two weeks after Mortgage Strategy exclusively reported rumours that Lloyds TSB was considering turning C&G into an intermediary only brand.

As part of the approach, C&G will deploy sales managers around the country to work on-site with intermediaries rather than in branches. This means C&G will be represented in areas of the country where it currently has limited or no presence. For instance, C&G has been unable to support intermediaries in Northern Ireland for the past 10 years because it does not have a branch there.

From January 1 next year however, there will be a business development team based in Belfast to serve the NI intermediary community.

C&G says the restructuring of the sales force will have no impact on intermediaries who have an existing relationship with their local C&G branch, but will mean intermediaries without a local branch can deal directly with a C&G intermediary sales manager.

The number of intermediary sales managers will stay at around 100, although there will be some additions to ensure nationwide coverage is achieved.

John Champion, intermediary sales director at C&G, says: “From what IFAs tell us, the C&G brand is synonymous with leading products and excellent service. This move is only going to further strengthen what the brand stands for.

“The IFA market is a high priority for us. What we are doing here is building an intermediary sales team around the needs of intermediaries rather than around the C&G branch network. Our ambition is to ensure we can maintain our sales team’s reputation for being the best in the business.”