FR: What’s new at Vertex?
We are really buzzing at the moment: our sales pipeline is very active, we are delivering truly great service to our customers, and having just completed an employee engagement survey I know that morale is very high and our people are very positive about the future. We have also just secured a variation of permission from the FCA to offer mortgage advice. This is great news for our business, expanding our offering and demonstrating to current and potential clients that we are constantly looking to grow, to improve and increase our portfolio.
FR: What part of the MD role do you find the most challenging, and the most enjoyable?
The biggest challenge is keeping ahead of regulation. MMR for instance is probably the biggest change in the mortgage industry since MCOB a decade ago. It is a really important set of changes but there is simply a huge amount to work through. The most enjoyable aspect is the people you meet – both our customers and our staff.
FR: What insights and skills have you brought to the FS industry from your past?
The best insight, which has held true in every industry I have worked in from chartered accountancy to the whole BPO spectrum at Capita, is not to try to do things you don’t understand. That’s why the team is greater than the sum of the individuals. As for a skill, without doubt I rely on my attention to detail.
FR: Where do you expect to see the most growth in future?
Short term we are currently seeing a lot of interest in origination solutions. It is exciting to see a revival at the front end of the market, where lenders are once again concerned with bringing competitive, innovative products and services to market. We are also very well advanced with our own MMR programme, and are talking to a lot of people about how we can help them with theirs. Medium to longer term there will be a wave of new lenders and entrants into the market, of all shapes and sizes. We’ve certainly got some interesting discussions on the go.
FR: What single piece of advice would you share with lenders?
Keep it simple. If you look at a lot of things that have gone wrong in FS, a root cause is usually over complex products that haven’t really met consumer need.
FR: What is your biggest point of pride, and biggest regret, in business?
I am really proud of the team at Vertex – they are a bunch of outstanding people, at all levels in the organisation. I don’t do regrets – life is too short!
FR: What would you be doing if you weren’t in Financial Services?
I am sure Mrs Coyle would have a view but I haven’t asked her yet.
