Bradford & Bingley director steps down

THE group which runs the mortgage operations of former high street banks Bradford & Bingley and Northern Rock, UK Asset Resolution (UKAR), has announced that  finance director Phillip McLelland is resigning. 

McLelland will be stepping down from the boards of UKAR, Bradford & Bingley and Northern Rock (Asset Management) with effect from November 25 2013.

McLelland has been finance director of UKAR since its establishment in October 2010, prior to which he was finance director of Bradford & Bingley.

Bradford & Bingley was nationalised in 2008 with the branches sold on but the mortgage book was retained and managed by state-owned UKAR which also operates part of the old Northern Rock business.