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The non-major bank has realigned its distribution arm with the rest of its mortgages business, with Glenn Gibson stepping down from his position.
ING has confirmed that it has made changes to its Australian retail banking operations, bringing its sales and distribution team in “alignment” with the rest of its mortgages team.
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Mr Gibson, the head of sales and distribution at ING Australia, finished up in his position on Friday (24 November).
Ray Esho, ING Australia’s long-serving national manager for broker distribution, is now spearheading the third-party channel in his role as national sales manager, reporting to ING Australia’s head of retail banking András Hamori.
Speaking to The Adviser about the change to the retail business, Mr Hamori, said that aligning sales and distribution with other parts of ING’s mortgages business would mean that the bank can “ensure [its] team is even better placed to support the broker community, as ING grows and customer needs evolve”.
He commented: “The broker channel always has been and will continue to be a pivotal channel for ING.
“The same great team will continue to work with the broker community, led by Ray Esho, ING Australia’s national sales manager.”
Mr Hamori told The Adviser that Mr Gibson had “decided to leave ING”.
He commented: “We thank Glenn for his service and the support he’s provided team members and the broker community.”
Mr Gibson had been at the bank for the past five years. Prior to joining ING in 2018, Mr Gibson had worked as the general manager of broker franchise group Yellow Brick Road, been the national sales manager for third-party distribution at AMP, and was formerly the head of sales and marketing for mobile lending at ANZ. He had also previously held roles as the chief executive of Security Credit Union and the director of wholesale at Resimac.
ING Australia loan book continues to grow
ING’s mortgage book and broker flows have been increasing over the past few years.
ING Australia had approximately $56.3 billion of residential mortgages on its books at the end of September 2023 (according to the most recent APRA banking stats).
Its loan book was up by around 1.9 per cent on ING Australia’s September 2022 figures, despite mortgage lending having softened substantially in Australia over the 12-month period as a result of rising interest rates and house prices. Indeed, the value of new loan commitments for owner-occupier housing in Australia was 8.4 per cent lower in September 2023 compared to the year prior, according to the Australian Bureau of Statistics (ABS).
The Australian mortgage book has been a jewel in the crown for the Netherlands-based banking group over the last few years.
ING’s interim results showed that, for the first half of 2023 (ended 30 June 2023) core lending growth was €2.2 billion (around $3.65 billion), of which €1.5 billion (approximately $2.49 billion) was in residential mortgages, “mainly in Australia”.
Net core lending also increased in 3Q2023, by €0.5 billion (circa $830 million) “mainly due to higher mortgage volumes in Spain, Poland, and Australia”, its quarterly stats showed.
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