Bradford and Bingley aims to recruit IR head

The UK’s second-largest building society, Bradford and Bingley, is looking for a group corporate affairs head to handle investor relations as it transforms itself into a bank.

The UK’s second-largest building society, Bradford and Bingley, is

looking for a group corporate affairs head to handle investor relations

as it transforms itself into a bank.



The post will be responsible for all aspects of PR and government

affairs and will assist the society’s demutualisation process, the

member windfalls that will result and the pounds 50 million

flotation.



’As we move from a building society to a plc, we have a whole new

stakeholder - the City - and we need to beef up our experience in that

area,’ said Ruth Blakemore, the building society’s group commercial

director.



Bradford and Bingley CEO Christopher Rodrigues said the new role’s

emphasis was very much on investor relations, because the company has no

experience in this area.



A salary of pounds 120,000 per annum has been mentioned in connection

with the position, although Rodrigues said the salary would vary

according to who was appointed.



London-based headhunter KKR is leading the recruitment drive and

Blakemore has already interviewed a ’handful’ of candidates.



The new role will report to Blakemore, and it is likely that the

company’s most senior PR adviser, corporate affairs executive Chris

Holland, will report to the post.



Bradford and Bingley retains Bell Pottinger Financial for corporate and

financial PR and Lawson Lucas Mendelsohn for public affairs. These

relationships will remain at present, said Blakemore.



The building society is being forced to demutualise after a 63 per cent

turnout of its members voted by 62 per cent to 38 per cent for a

conversion to a plc in April - against the desire of the society’s

board.



It is expected to spend pounds 50 million on its flotation, which is

valued at pounds 3 billion and is scheduled for completion by the end of

2000.



Bradford and Bingley saw a rise in its pre-tax profits in the six months

to June 30 to pounds 79.3 million from pounds 65.4 million in the same

period of 12 months previous.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.