Companies  

LSL says it is not merging mortgage networks

LSL says it is not merging mortgage networks

LSL’s two mortgage networks will “retain strong elements of individuality” despite Richard Coulson being made a director of both.

It is the third largest distributor of mortgages and protection, with more than 1,500 appointed representative advisers and more than 2,000 directly authorised advisers using its mortgage club TMA.

Today (17 August), LSL stated the appointment of Mr Coulson across their two networks does not signal the end of one of the brands.

According to bosses, the individual brands will remain unchanged, each continuing to have their own regional director teams.

The co-founder of multi-tied specialist mortgage network Home of Choice, which LSL bought out of administration in 2010, will now be business development director of First Complete and Pink Network.

Mr Coulson takes over from Mark Graves, who resigned in July and left the network in early August.

For several years the three brands under LSL Financial Services - Pink, First Complete and TMA - have had a number of centralised support functions.

Earlier this year Toni Smith’s role was also widened to sales operations director across both networks, looking after marketing and communications plus lender and provider propositions.

David Copland will continue to lead the development and growth strategy for TMA.

Jon Round, group financial services director at LSL, commented that each business has its own competitive proposition, growth strategy and identity.

“Some support functions are delivered by a single team that looks after all our FS businesses, other functions are delivered by brand-specific teams that look after firms within either Pink, First Complete or TMA.

“This approach enables each network to retain strong elements of individuality and identity, whilst benefiting from a co-ordinated, joined up management approach and the financial backing of a large PLC owner.”

emma.hughes@ft.com