A non-major bank has appointed a highly experienced banking executive as its new head of third-party as the lender looks to expand its broker distribution capabilities.
Paul Herbert has been CEO of The Rock in Central Queensland, a division of MyState Limited, for the past two years and will continue in this role while assuming his new national broker relationship responsibilities with MyState Bank.
MyState general manager sales and distribution, Huw Bough, said Mr Herbert was well qualified with more than 23 years’ experience in the financial services sector.
“Paul knows MyState Bank well, has extensive experience in the mortgage broker industry, previously as state sales manager for Queensland and NSW with GE, and most importantly he understands brokers’ needs,” Mr Bough said.
“This will help Paul to hit the ground running, quickly establish key relationships and maintain our mortgage business growth momentum.
“To assist him, we have recently almost doubled our number of broker relationship managers around the country and are looking at other ways to strengthen broker relationships and enhance the way we work with them.”
Brokers helped MyState increase its home loan book by 30 per cent from $2.8 billion to $3.7 billion in the two years to 30 June 2016.
The Hobart-based lender is working to diversify its loan book by accelerating lending outside of Tasmania and currently has around 40 per cent of its loan book outside the state.
Mr Herbert said he was looking forward to working with and supporting MyState’s broker network.
“Brokers are a very important part of our business and our partnership with them is the key to our growth.
“Our goal is to make a difference to our partners, customers and communities every day. With brokers we will do this by being accessible, being exceptional communicators and having a shared passion to serve and make things happen,” he said.
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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