BankWest buzzing Johnson says
(10 July 2006 – Australia) BankWest’s Commercial division grew its balance sheet by 70 percent in 2005 and is on track to do the same again in 2006, according to head of Commercial Banking Gary Johnson.
"2005 was about getting up and running; 2006 is about supplying a full banking solution to our clients," he said.
Johnson said the bank’s east coast expansion had "exceeded expectations", with Commercial doubling its book in NSW, Queensland and Victoria.
He said BankWest had hired 80 new relationship managers in 2005 and would add another 80 to 90 by the end of 2006.
Most of the new RMs had been recruited by headhunters with some coming to the bank by way of referrals.
Johnson denied that RMs were being tempted to join BankWest because of the hefty salaries on offer.
"RMs are being paid at market rates. They’re not coming across for the dollars; they’re joining BankWest because they want to be part of a growth story, and work somewhere where they get organisational support and engaged leadership," he said.
"RMs have been bringing on business quicker than expected. BankWest has credit appetite similar to the majors; we can lend against going concerns of the business and sign the business off with a single signature."
BankWest opened nine business centres on the east coast in 2005 with another 10 or so due to open this year. Johnson said the business banking centres, which typically contained 15 to 20 staff members, were being located in "logical" growth centres such as Kingsgrove, Chatswood and Wetherill Park in NSW.
He said the suburban based business centres were also a "physical demonstration that BankWest is here to stay".
While the bank’s core focus was on providing debt, Johnson said the bank had deployed CBD based cash management and transaction services teams in each state who targeted new customers.
On competition in the lending markets, Johnson said each of the major banks would "have a push" but that BankWest’s margins had remained stable, which was a "commendable effort".
"But other banks aren’t our focus. The moment you start playing the man instead of the ball you get yourself in trouble, we’re about providing the best banking solutions to our clients."
"We’ve got engaged and happy staff working in a high performance culture – there’s a real buzz about the place," Johnson said.
Johnson said the bank’s east coast expansion had "exceeded expectations", with Commercial doubling its book in NSW, Queensland and Victoria.
He said BankWest had hired 80 new relationship managers in 2005 and would add another 80 to 90 by the end of 2006.
Most of the new RMs had been recruited by headhunters with some coming to the bank by way of referrals.
Johnson denied that RMs were being tempted to join BankWest because of the hefty salaries on offer.
"RMs are being paid at market rates. They’re not coming across for the dollars; they’re joining BankWest because they want to be part of a growth story, and work somewhere where they get organisational support and engaged leadership," he said.
"RMs have been bringing on business quicker than expected. BankWest has credit appetite similar to the majors; we can lend against going concerns of the business and sign the business off with a single signature."
BankWest opened nine business centres on the east coast in 2005 with another 10 or so due to open this year. Johnson said the business banking centres, which typically contained 15 to 20 staff members, were being located in "logical" growth centres such as Kingsgrove, Chatswood and Wetherill Park in NSW.
He said the suburban based business centres were also a "physical demonstration that BankWest is here to stay".
While the bank’s core focus was on providing debt, Johnson said the bank had deployed CBD based cash management and transaction services teams in each state who targeted new customers.
On competition in the lending markets, Johnson said each of the major banks would "have a push" but that BankWest’s margins had remained stable, which was a "commendable effort".
"But other banks aren’t our focus. The moment you start playing the man instead of the ball you get yourself in trouble, we’re about providing the best banking solutions to our clients."
"We’ve got engaged and happy staff working in a high performance culture – there’s a real buzz about the place," Johnson said.
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