Legal & General Network has made changes to its management team, with two new appointments.
Stephen Smith, currently director, housing and external affairs at Legal & General Network, moves to become director, mortgage club and housing.
Ben Thompson currently managing director of the mortgage club, takes on a new role as director of banks and affinities within insurance, overseeing the group’s key financial services relationships in the sector.
The changes come as part of the wider re-organisation within the group, which will see Sue Pennington and Martyn Smith leaving the company.
Stephen Smith assumes control of the club, as a member of the network’s executive management team, while Jeremy Duncombe continues his role as director of the mortgage club reporting into Smith.
Thompson joined the mortgage club in 2007, seeing it increase its market share from 9% to 28%. His new role will see him remain in the lending and banking market supporting the broader proposition.
Smith said: “The Legal & General Mortgage Club is central to our strategy in the housing and mortgage markets, bringing many benefits and value to various parts of the group. Growth and innovation will continue and we are looking forward to a robust market recovery and to helping our partner firms through next year’s regulatory change. We have an exciting future and an improving market to look forward to.”
Thompson said: “I am delighted and excited with the challenges of my new role and look forward to the opportunities that it presents. I would like to thank the many friends and colleagues that I have worked with over the years who have made the club so successful and also thank the members and lenders of the club for their loyal support.
“I am proud that the club is a leader in a recovering market and with intermediaries well placed to go from strength to strength.”
Smith added: “We wish Susan and Martyn well for the future and thank them for their unstinting hard work for the Club team over the years.”
