Intelligent Finance boss makes sudden departure

Intelligent Finance director of product and marketing Duncan Movassaghi has suddenly resigned after less than a year in the job.

Movassaghi tendered his resignation last week and left the building the same day. It is believed that he has decided to work freelance as a strategy consultant. Intelligent Finance says the search for a replacement is already well advanced.

During his tenure, Movassaghi reviewed the telephone and internet bank’s £8m advertising account, shifting it into Campbell Doyle Dye (CDD) from The Union. CDD has created the bank’s current advertising campaign with the “Until money grows on trees” tagline, promoting its full range of products including savings products and a credit card. The bank had been best known for its offset mortgage product.

Intelligent Finance is the internet and telephone banking division of Halifax Bank of Scotland (HBOS), competing with Egg and Cahoot.

Movassaghi was appointed last July to the newly created position of director of products and marketing (MW July 3, 2003). He was previously a regional sales director for HBOS in Scotland.

Intelligent Finance uses Navigator for its direct marketing and BLM for its media buying and planning.

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