Pink takes major share of BDS

The investment forms part of PHL’s strategy to grow its business and it hopes the addition of BDS will help the firm increase its negotiating strength and operational efficiencies. The deal means the combined group has originated over £13bn of lending in 2007, with a base of 550 business writers and 45 satellite packagers. PHL says the two firms will continue to operate a separate businesses, meaning customers and ARs will see little change in their day-to-day relationships with either network. Barry Meeks, chief executive of both PHL and BDS, says BDS will complement PHL’s existing prop...