Wallace departure may be no more than NU job

Rumours that Norwich Union (NU) intermediary business director Ken Wallace will vacate his role soon refuse to go away.

One rival told Backchat this week, that Wallace recently - after a few beers at the bar - said that he would go next year.

Although it remains unclear as to whether that means retirement or a new job.

NU is the kind of company that likes to switch senior managers around every now and again - witness recent changes following Patrick Snowball's promotion.

So it would be no surpise if Wallace left for pastures new within NU.

However, Backchat is confident that Wallace will have enough to retire on should he wish to go, despite the alleged current pension crises.