Bradford & Bingley management shake-up triggers search for chief

Bradford & Bingley Building Society is seeking a marketing chief after promoting director of marketing John Wriglesworth to the post of development director.

Bradford & Bingley Building Society is seeking a marketing chief after promoting director of marketing John Wriglesworth to the post of development director.

The society, which is the UK’s second largest mutually-owned building society after the Nationwide, has restructured its senior management after a review conducted by chief executive Chris Rodrigues.

Last month, six senior directors took early retirement following the restructure.

“We will recruit someone to take charge of marketing,” says a spokesman, who adds that Bradford & Bingley has not decided whether it will look externally or internally.

Part of the society’s strategy is to persuade its 2 million customers of the benefits of mutual ownership. Last month, it promised to cut the cost of mortgages for 250,000 borrowers by shaving 0.2 per cent off its standard variable rate for existing customers – saving 100 a year on a 50,000 loan.

This strategy is part of a 100m loyalty programme. In March, it increased interest rates for long-standing savers by 0.5 per cent. The society spends 2.5m a year on advertising through Leo Burnett.

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