You are here: Home - News -

All change at Britannic ‘ again

  • 01/07/2003
  • 0
The top job at the Britannic Group continues to prove too hot to handle as managing director Br...

The top job at the Britannic Group continues to prove too hot to handle as managing director Bryan Portman announced his intention to retire from the board in September.

Finance director Paul Thompson will fill the position from 1 July. Portman has been in the job for a year, and took over from Danny O’Neil after he had been in the job for only seven weeks.

It is expected that Portman will take on a non-executive role elsewhere, although no announcement has been made. Harold Cottam, chairman of Britannic, said: ‘Bryan has contributed enormously to the development of the group and its navigation of extremely testing market conditions. That phase now completed, and with Paul Thompson in position as his clear successor, Bryan has chosen to pursue other interests. Looking ahead, Paul has already more than demonstrated his abilities and I am fully confident in his leadership of the group.’

Britannic is currently looking for a finance director to replace Thompson.

Thompson did not feel the change in leadership reflected badly on Britannic or its ability to provide for its customers and commented: ‘There is a bit of history but that is in the past. Harold Cottam has been there for a long while as have other members of the management and I intend to do the job and stay.’

Last year, Britannic reported an operating profit before tax and exceptional items of £86m. This was down from £145m the year before.

The news follows a statement made at the start of the month that its specialist mortgage lending division Britannic Money is in talks with Paragon Mortgages over its possible sale. Thompson said negotiations were progressing well and that he expected there would be news ‘reasonably soon.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Making the first move

With first-time buyers dwindling, the buy-to-let market is set for another phase of growth and brokers should not fight shy...