The major bank has officially appointed a new general manager of third party banking, effective immediately.
The Commonwealth Bank of Australia (CBA) has named Adam Croucher as its new general manager, third party banking.
Mr Croucher was formerly in the role of acting general manager of broker sales, following the departure of former broker head Sam Boer in August of last year.
Prior to this, Mr Croucher was the third party banking state manager for Victoria and Tasmania.
It has now been confirmed that Mr Croucher will take on the role of general manager, third party banking.
In this role, the new GM of third party banking will be responsible for aggregator lender panel relationships, among other responsibilities.
CBA’s executive general manager, home buying, Daniel Huggins, commented: “Adam will be well known to many, having held a number of roles throughout his 14-year career with the bank. Most recently, he was the third party banking state manager for Victoria/Tasmania.
“Adam’s strong leadership capabilities coupled with his deep understanding of the Commonwealth Bank and the mortgage broking industry ensure he is well placed to deliver on our strategy of building a strong, sustainable third-party channel.”
The new GM of third party banking said he was looking forward to his new role, adding that CBA continued to support the broking industry.
He commented: “In my previous role as state manager, I saw first-hand the exceptional job brokers do for their customers each and every day.
“I know how much customers value the service their brokers provide, which is why we continue to support this great industry.
“I look forward to working together with our broker network to deliver brilliant outcomes for customers.”
The Commonwealth Bank has seen a range of changes in its broking business in the past year. As well as the departure of Mr Boer, the bank announced last year that it would be demerging its broking businesses into a new entity.
The yet-to-be-named “NewCo”, also referred to as the CFS Group, includes Aussie Home Loans, CBA’s minority shareholdings in ASX-listed companies CountPlus and Mortgage Choice, Colonial First State, Count Financial, and Financial Wisdom.
The bank has previously said that the group will benefit from a separate listing on the ASX and give it the “ability to pursue its own growth strategies”.
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.
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