Westpac strengthens broker business

Westpac has beefed-up its third-party distribution capabilities with the announcement yesterday that Huw Bough will move across from RAMS Home Loans to take up the role of head of broker sales from 1 January 2009.

RAMS enjoyed significant growth in its third-party distribution over the four years that Mr Bough headed up broker sales.

Third-party applications rose from around $200 million per month to $1 billion prior to the Westpac purchase and RAMS made significant investment in its BDM team.

“People who know me understand the passion and belief I have for the broker channel – my background is in sales and distribution and having firsthand experience of running a broker business,” Mr Bough told Mortgage Business.

Mr Bough said that he saw his appointment as a statement of Westpac’s commitment to the broker channel.

“I understand the needs of the brokers and recognise the size of the opportunity,” he said. “I want to instill a broker focused culture at every touch point.”