View more on these topics

Curriculumvitae: Peter Welch

Describe your current job

Growing Bridgewater Equity Release’s market share of home reversion plans via brokers.

Describe your first and last jobs

My first job in financial services was as a trainee life representative with Royal Insurance in 1987. I did the grunt work in the office, worked on quotes and then moved on to packaging mortgages. Within six months everyone had left and I found myself running the mortgage desk.

My last job was with Grainger, Bridgewater’s parent company, as a relationship manager. I looked after all distribution in the equity release space besides IFAs.

What have you done in between?

I’ve always worked in financial services. I was employed by Royal & Sun Alliance as a key customer leader and held a similar role at Prudential. At each job I’ve wanted to take on challenges outside my position. For example, at RSA I worked on a global change project.

How do your jobs to date compare with your career aspirations when you were younger?

I always wanted a job I enjoyed that offered me the freedom to take decisions and make a difference. So I’m happy with the direction my career has taken as I do these things at Bridgewater.

What has been the defining point of your career to date and why?

In one of my first jobs I put my values before my career when I was asked by my then boss to do something that I knew was the wrong thing for our customers. I refused and as a result he made my life hell, so I resigned and became a self-employed mortgage broker. I am a firm believer that what goes around comes around and two years later he lost his job. At the same time I was gainfully employed and my career trajectory had taken off. It was a valuable life lesson.

And the most embarrassing?

In autumn 2001 I was giving a presentation to a group of advisers in Cardiff, South Wales. A member of the front row walked out after five minutes.

“I’m not listening to any more of this f***ing rubbish!” he loudly declared to his peers as he left.

What work ambition would you like to achieve by retirement?

I have two simple ambitions. First, to stay healthy enough to see my children grow up and become independent of my wife and I. And second, to remain in work to pay the bills until they do.

How many mortgage payments do you have left? 252.

Up close…

Age: 46

Where do you live?

Colchester, Essex

What’s your favourite holiday destination?

Trevone, Cornwall.

What’s your tipple?

It’s wine and as long as someone else is buying, it’s Château Pichon-Longueville Comtesse de Lalande, Cru Classé Pauillac.

What one thing would you take to a desert island and why?

A wind-up radio that picks up Radio Five Live.

Who is your celebrity crush?

Sean Young.

What’s the most embarrassing album you own?

Great War Movie Themes – I listened to it every day as a 10 year old.

What’s the craziest hobby you’ve ever attempted?

I’ve not had any hobbies you’d call crazy but I’ve done some crazy things while partaking in them. When I was a student I helped crew the safety boat at a sailing regatta. I decided to show off my dancing skills and promptly fell in.

Recommended

Knight saw market crisis coming

Stephen Knight, executive chairman of Checkmate Mortgages, has revealed that fears of a serious market adjustment spurred his decision to give up his former position as chairman of GMAC-RFC in April 2007.

Rethink needed on state aid for banks, says CML

Michael Coogan is calling on the government to revisit its position on state aid for banks and address the lower levels of mortgage funding that have been the unintended result.

Newsletter

News and expert analysis straight to your inbox

Sign up