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By Tim Neary
October 7, 2011
Tony MacRae
Westpac Banking Corporation has appointed familiar figure in the third-party distribution field Tony MacRae as the new GM for its mortgage broker distribution division.
MacRae moves from his current role as NSW State GM of Westpac's commercial banking business.
Previously he was the acting CEO of RAMS Financial Group and GM for Westpac's third party distribution.
Group Executive for Retail and Business Bank Rob Coombe said MacRae brings to the role a wealth of experience in strategy and sales management, as well as specialist knowledge in distribution businesses.
"Tony's breadth of financial service leadership experience means that he is well positioned to grow Westpac's mortgage broker business," he said.
"Westpac's third-party distribution network is an integral part of the bank's strategy, with approximately 45% of all new residential home lending business written through the broker channel."
MacRae replaces Huw Bough, who will be returning to RAMS as its new GM, Franchise business.
In acknowledging him for his work with Westpac's third-party broker distribution division, Coombe said that Bough had put it in a "very strong" position.
"Huw's exemplary leadership over the past three years has delivered a stronger mortgage broker business as well as building deepened and well respected relationships with all of Westpac's brokers, aggregator partners and industry stakeholders. We wish him all the very best in his new role."
MacRae and Bough will start their new roles on the 14th and 17th of October respectively.
Related Stories
Brokers acknowledged as equals, says major lender - Lenders recognise the customers' channel of choice and acknowledge that the broker is also the customer, Westpac's Huw Bough has said.
If not so serious Big Bank Switch would be a joke - AFG - The Big Bank Switch switching campaign would be laughable if it wasn't putting people's property on the line, AFG's Mark Hewitt has said.
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