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Brokers ‘at the heart’ as One Savings Bank and Charter Court Group complete merger 

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  • 07/10/2019
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Brokers ‘at the heart’ as One Savings Bank and Charter Court Group complete merger 
One Savings Bank has reassured brokers that it remains committed to the intermediary market as it confirmed completion of its merger with Charter Court Services Group.

 

“Intermediaries have always been at the very heart of our propositions. Operationally, brokers will notice absolutely no change. It will be business as usual with all the brands of the new group remaining committed to the intermediary market,” said Alan Cleary, group managing director (pictured).

The brands forming the new group will remain separate, including Kent Reliance for Intermediaries, InterBay Commercial, Heritable and Prestige Finance, as will propositions, service, contracts, procuration fees and product offerings.

The two companies confirmed in March that they wanted to merge and in July the Competition and Markets Authority gave the deal the green light.

The arrangement sees One Savings Bank Group exchange of 0.8253 shares in the new entity for each share in Charter Court Services — giving Charter Court shareholders 45 per cent of the new group.

 

 

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