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BankWest sends broker head east

BankWest sends broker head east

(21 August 2006 – Australia) BankWest is looking to increase its broker originated mortgage business by relocating head of Broker Sales Phil Colton from Western Australia to Melbourne. "BankWest’s east coast market share push is fundamental to HBOS Australia’s national growth and the broker channel is a significant part of this growth strategy in place of traditional bricks and mortar branches," Colton said.

BankWest head of Retail Sales Mark Reid said it the move would allow Colton to offer greater support to the bank’s east coast broker network as well as developing new business opportunities.

"The broker channel on the east coast accounts for 56 percent of total new loans for BankWest so it is a significant part of our growth strategy, and we have already had substantial success particularly in New South Wales and Victoria," Reid said.

The bank said its mortgages under management book grew 32.6 percent nationally from May 2005 to May 2006, making it the fastest growing mortgage business in Australia.
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