Ex-Pizza Hut boss to lead CGU Net mortgage drive

Finance group CGU has named David Lundholm as marketing director of its new £10m Internet mortgage venture.

Former Pizza Hut marketing director Lundholm will oversee the spring launch of the service, which has the working title “Project Seattle”.

Lundholm was marketing director of Pizza Hut in the UK for 18 months, before quitting in January to join CGU. He has worked at Tricon Restaurants International – owner of Pizza Hut, Kentucky Fried Chicken and Taco Bell – for ten years.

Pizza Hut’s former US marketing director, Bill Ogle, replaced Lundholm in January (MW January 20).

Project Seattle will compete with Prudential’s Egg.

Its launch sees CGU move back into mortgages through a home-buying one-stop shop. At the end of last year, the company announced it was moving out of mortgages and sold its home-loan portfolio to the Skipton Building Society for £150m.

Project Seattle will also provide house insurance and an estate agency service.

It is understood CGU will extend the brand into other financial services, as Prudential has done with Egg. Egg now offers mortgages, credit cards and high-interest savings accounts.

CGU already has an Internet auction site: bluecycle.com. It has also set up a “think tank” – called Siliconwharf – to develop new business ideas.

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