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Glasgow mortgage broker moneyQuest has unveiled a recruitment drive following the sale of a major stake in the business to ex-Egg boss Paul Gratton.

moneyQuest has revealed that it is recruiting 10 new advisers following the acquisition of a majority stake in the business by former Egg chief executive Paul Gratton for an undisclosed sum.

Steve and Derek Pollard have resigned as directors of the business, but co-founder Paul Reynolds will remain as managing director of the Glasgow-based mortgage brokerage.

Mr Gratton, who is now executive chairman of moneyQuest, was previously chief operating officer of Egg when it launched in 1998 and later chief executive for five years until he left in 2006. In the meantime, he has held several executive and non-executive positions.

moneyQuest, which was until now an online and telephone-based brokerage employing 130 staff, has also revealed that it will be expanding into face-to-face advice as part of its new strategy.

Mr Reynolds said: "In these uncertain times, moneyQuest is an exciting place to be just now. For people to be at their best they need security, opportunity and a flexible approach to work and I believe we deliver on all three."

"Our immediate needs are to recruit experienced mortgage professionals from Glasgow and Edinburgh."

Source:  FT Adviser, March 2008