Abbey National picks intermediary director

Abbey National has appointed Hugo Thorman as intermediary propositions director as part of the continuing restructure of its marketing functions.

The intermediary propositions director handles all marketing responsibility for business transacted through financial intermediaries.

Thorman will report directly to Abbey National chief executive Luqman Arnold until Abbey National’s top marketing position, customer propositions director, is filled. It has been vacant since retail marketing director Janet Connor was moved sideways in March (MW March 4).

Thorman has been promoted from marketing director for Abbey National for Intermediaries’ wealth management and banking division. Before then he was marketing director for Abbey National Life.

At the launch of a fundamental review of its business this February, after announcing losses of nearly £1bn, Arnold set out a new strategy of focusing solely on its core high street banking operations and intermediary business. Currently, around 50 per cent of Abbey National’s mortgages and around two-thirds of its life insurance products are sold through intermediaries.

Last year the bank grouped together those subsidiaries it was not seeking to sell to Abbey National for Intermediaries.

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