Financial services company restructures for 2009

00:00 Monday 5th January 2009

In the New Year Y3S Group, the South Wales based financial services company, has announced that it will restructure to focus on increasing its range of products and services to its introducers.

Since inception in 2001, Y3S has focused on secured loans as its core offering, but since late 2007, it saw the need to develop complementary products into its core product mix. For 2009, the new products will be marketed under the ‘y3s financial services’ banner. These products include debt management, IVAs, unsecured loans, equity release, bespoke loans, commercial & overseas mortgages and sale & rent back facilities.

All staff involved in its main secured loan brokerage will be redeployed into its two subsidiary brokerages, B2B Loans and Intelligent Loans. This will allow Drake and Cottle to delegate all daily management duties to focus solely on developing Y3S Group’s product offerings. Introducers will continue to deal with their dedicated point of contact and there will be no redundancies.

Barney Drake, the group’s operations director commented, “Since the credit crunch first started to affect our secured loan business, we created a new financial services arm to identify and offer new products and services to brokers, which have since produced stable, encouraging results. To enter 2009 positively, we will develop these ancillary products amongst the group’s core product-offering. Consequently, we are focusing our efforts accordingly. To this end we took the decision to transfer our secured loan offering to b2b and Intelligent Loans, and concentrate on what we do best – developing new services for our group’s database of intermediaries. As we are retaining all our staff, introducers will still deal with their dedicated point of contact and service levels will therefore be completely unaffected.”

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Financial services company restructures for 2009

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