CML announces new chairman and deputy

Pain, managing director of Cheltenham & Gloucester since May 2003, succeeds Nationwide Building Society’s Stuart Bernau as chairman, while Maltby, chief executive of the Kensington Group, becomes deputy chairman. Pain started his career with Lloyds TSB in 1974 and since then has held various management roles, including managing director of Lloyds TSB Insurance. Commenting on his appointment Pain says: “The rest of this year is set to be a challenging one for the mortgage industry. Over the next 12 months the Financial Services Authority (FSA) will review the mortgage conduct of business...