Halifax restructures business

HALIFAX SAID yesterday it was restructuring its business and making changes to its board. This is its first major announcement since James Crosby's appointment as chief executive. Roger Boyes, group finance director, will hand responsibility for corporate finance to Gren Folwell, deputy chief executive. John Miller, Housing and Technology director, will leave to pursue other business interests.

Mike Ellis, formerly Treasurer, will become retail financial services director in charge of a newly merged product division. Halifax used to operate separate mortgage, banking and financial services arms, with separate lines of reporting. Mr Ellis will also be in charge of all sales of Halifax branded products. Clerical Medical will remain a distinct company.