Bank of Queensland has appointed Kathy Cummings, who established CBA’s broking business, to the newly created role of general manager, broker.
Kathy Cummings has more than 20 years of experience in the mortgage broking industry, and her most recent role was with Commonwealth Bank of Australia (CBA), where she established the bank’s mortgage broking business.
Ms Cummings left the bank five years ago but has been consulting in the broking space over the past few years.
Earlier this year, Ms Cummings was awarded a Lifetime Membership of the Mortgage & Finance Association of Australia (MFAA), having previously served on the board of MFAA for nine years.
She will commence her new role as BOQ’s general manager for broker on Monday, 6 January 2020, reporting directly to BOQ’s group executive retail, Lyn McGrath.
Natasha Kelso, BOQ’s head of broker, will report to Ms Cummings.
The news comes as the bank refocuses its efforts on rebuilding and reinvigorating BOQ’s broking division, as part of its transformation journey under new managing director and CEO George Frazis.
Mr Frazis said he is delighted to welcome someone of Ms Cummings’ “exceptional experience and high industry regard” to the group.
“As we look to strengthen our broker relationships and build momentum across this channel, Kathy’s proven experience in strategic planning, financial and risk management and sales distribution makes her the ideal choice to lead the BOQ Broker team,” Mr Frazis said.
Ms Cummings said she is looking forward to joining the BOQ Retail team at a time of significant challenge and opportunity for the banking industry and, in particular, the mortgage broking sector.
“I trust my experience and passion for the industry will enable me to add value to the BOQ Broker and third-party propositions, which together, with support from managing director and CEO George Frazis will see BOQ as the regional bank of choice in the third-party market.
“I’m ready to make a difference,” she said.
The non-major bank has been on a recruitment drive in recent months, expanding its third-party division with several new appointees.
Former Connective BDM Aaron Hase was named BOQ’s new state relationship manager for Queensland last week, joining other recent additions in the form of former Loan Market BDM Christopher Emanuel and banking veteran Andrew Watherston, who was appointed as BDM for SA.
As well as changes to the third-party team, the bank has also seen several movements at a board level.
The Brisbane-based bank held its annual general meeting on 10 December, after which director David Willis retired from the board.
BOQ’s new chairman, Patrick Allaway, also noted that director Richard Haire will retire from the board in April 2020, and acknowledged former chair Roger Davis, who is also leaving the bank.
Mr Allaway also thanked Jon Sutton, who resigned as CEO for health reasons in December 2018, and Anthony Rose, BOQ’s interim CEO, “who provided a smooth leadership transition”.
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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