The group consists of theblack&whitemortgagecompany, theblack&whiteloancompany, black&whiteinsurance, and the newly formed black&whitecommercial division.
Christopher Ollerenshaw, chairman of theblack&white group, said: “From a purely commercial aspect we want new customers who come to theblack&whitegroup to know we can satisfy their mortgage, loan, insurance and commercial finance needs.”
Commenting on the restructure, Peter Biddy, head of the financial regulatory group at international law firm DLA, said his firm was working with several large mortgage operations in a similar position.
Biddy said the benefit of consolidation was that only one application for authorisation was required, enabling the group to focus its compliance resources. However the disadvantage was that if one part of the group did something wrong it would bring the whole group under scrutiny.
Thomas Reeh, has also been appointed chief executive officer of theblack&whitegroup, where he was formerly group-marketing director. Ellie Ollerenshaw has been appointed chief finance officer for the group and Adrian Childs, chief operations officer. These positions also carry executive board responsibility.
