The new head of broker distribution at Adelaide Bank plans to turn the lender into the ‘broker’s bank’ by putting the third party distribution channel first.
Fons Caminiti has taken the reins at the South Australian non-bank lender with 10 years' experience in third party lending.
“I was a senior business relationship manager for three years for Adelaide Bank working with brokers directly, and then seven years as state manager… I am assured in my understanding of the broker market and have maintained and developed valuable and meaningful industry connections over these years,” Mr Caminiti told The Adviser.
General manager of Adelaide bank Damian Percy said the decision came as the lender looked to reignite its broker proposition.
“This new role is a key part of the restructuring and repositioning of our broker business interface and I am confident Fons will utilise his significant experience and unparalleled enthusiasm to great effect,” he said.
Mr Caminiti claimed his long-term goal was to see the bank become the ‘broker bank’ and that providing a genuine alternative to the majors was only part of the puzzle.
“We are investing heavily to continue to rejuvenate the broker offering, continually improving the products and services we provide brokers and ensuring that we place the broker first in everything we do.”
Mr Caminiti also hinted at new online and lending platforms, as well as new products.
“In recent times the non-majors are fighting back steadily and we are positioning ourselves to improve on that current trend.
“We must, and will, ensure that our value proposition is robust enough to perform at whatever transitional level the broker market is in at the time,” he said.
Mr Percy said he was excited to have Mr Caminiti on board, and was also committed to forcing the lender to the forefront of the minds of brokers.
“We’ll remain a true ‘broker only’ bank and we’ll continue to improve our service and processes and maintain our market leading turnaround times.
“Great turnaround times are a key feature of our value proposition and greatly appreciated by busy brokers, particularly in hot capital city property markets,” he said.