View more on these topics

Abbey’s Miguel Sard takes the helm at Cater Allen

Miguel Sard, managing director of Abbey for Intermediaries, is taking on the additional role of managing director of private bank Cater Allen.

Santander owned Cater Allen offers a range of products through brokers, including savings accounts, fixed term deposits, structured deposits and current accounts.

The private bank’s roots date back to 1816, the year after the Battle of Waterloo, when it was set up by the Cunliffe family. Over a century and several acquisitions later an amalgamation of companies was formed that by 1981 was known as Cater Allen.

During the 1980s it was primarily a wholesale bank but following the acquisition of Tyndall Bank in 1994 it massively expanded its private bank side. Bought by Abbey in 1997, Cater Allen was part of the companies Santander took control of when it bought the UK bank in 2004.

Sard says: “The intermediary channel is strategically very important to Santander and is a key channel for our business.

“We have made it clear that going forward we want to distribute more products through intermediaries, putting the customer and the distribution channel at the very heart of the relationship, and bringing our two intermediary brands together under the same management supports this goal.

“We are committed to developing and strengthening the relationships we have with intermediaries across the market, and we will be working hard to continue to support our intermediary partners with great products and service.”

Recommended

Arrange life cover now to beat G-day price hikes

Mortgage brokers should submit protection cases now to avoid potential price hikes arising from the European directive banning gender discrimination. The European Union directive will come into force on December 21 and could see prices rocket. Women’s life cover is currently cheaper than men’s due to their longer life expectancy while critical illness protection is […]

1

UK no longer in recession

The National Institute for Economic & Social Research has reported that the UK has exited recession after ceasing to contract.

2

Valuations up 4% in May

The total number of residential valuations conducted during May rose by 4% compared to April, according to the latest Housing Market Activity Report by Connells Survey & Valuation.

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Fran brogan 12th June 2012 at 3:26 pm

    Surely this is great news – Santander investing further in the intermediary space and will return to lending to our customers over the coming years.

    The dual pricing comments are very short sighted – the 7 day specials we had all of last year were in our favour and I am sure AFI will return to our channel to achieve their lending targets again later in 2012.

    Surely the Woolwich announcement that the intermediary md is now looking mortgages in retail is worst for us than this intermediary friendly announcement?

  • GARY 12th June 2012 at 3:18 pm

    More business through the intermediary channel!
    Have you seen your own broker rates, compared to what you offer in branch???

    Empty gesture, worthless comment.

  • Phil 12th June 2012 at 3:17 pm

    Intermediaries are so key to you that you continue to dual price us out of business. Looks to me like you won’t have many intermediaries left to do business with at the rate people are leaving the industry.

  • Rudolph Hucker 12th June 2012 at 3:17 pm

    Well done

    Full marks

  • Rudolph hucker 12th June 2012 at 3:16 pm

    Duh !! History lesson required I think re Battle of waterloo date.