N&P CEO Bullock in shock exit

Bullock will be retiring when a successor is found, after 12 years at the Friendly. In a statement Bullock says the Keydata issue has "dominated" the past 12 months. The troubled building society has admitted its advisers gave "inappropriate" advice to a customer who invested the bulk of their SIPP in Keydata, in a case lawyers involved say mirrors dozens of other claims. Bullock has said N&P, which is being circled by rivals as a potential takeover target, faces costs of up to £50m in poor advice claims from hundreds of angry Keydata investors. Coventry Building Society is at t...