FIG Watch: B&B takes back ownership

Bradford & Bingley’s treasurer, Peter Green, and head of capital markets and securitization, Mark Winter, want to regain ownership from investment banks of their institution’s dialogue with investors. They are following a simple strategy of diversifying the investor base. Allied to a remarkable level of transparency during the printing of new issues, this is already reaping its rewards. Alex Chambers reports.

Peter Green and Mark Winter, Bradford and Bingley
Peter Green (left) and Mark Winter: seeking greater control over the marketing and sales of Bradford & Bingley’s bonds

It was not so long ago that Bradford & Bingley was an unloved, at least by the wholesale markets, former building society. The bank was maligned by investors’ poor understanding of the true nature of its business and was under pressure from the rating agencies for its business strategy, in particular its shift into specialist mortgage lending.

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