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With a subsidiary of the Tasmania-based lender taking steps towards establishing a business lending presence, it has named its inaugural head of commercial lending.
MyState’s wealth management arm, Tasmanian Perpetual Trustees (TPT), has appointed Bryce Harding to oversee its commercial lending operations as it begins to expand.
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Prior to his appointment, Mr Harding was manager of the Murdoch Clarke Mortgage Fund (MCMF) from 2007 to 2021 – a role that, as per a statement from TPT Wealth, saw him reposition it in the Tasmanian market, “significantly growing its lending and investment portfolios”.
Mr Harding also previously sat on the State Council of the Mortgage and Finance Association of Australia (MFAA), served as a director of the MFAA national board, and held management roles with Westpac and Island State Credit Union Limited (now MyState Bank).
In his new role, Mr Harding has been tasked with leading a new 11-member team of relationship managers with an underlying goal to expand and become “the largest commercial lender in the state”.
Speaking on the company, Mr Harding said: “Not all lending is the same. Non-bank lenders have an important role to play, particularly in support of small to medium-sized businesses.
“Our big advantage is that we make lending decisions locally and quickly, aiming to provide conditional lending approval in a matter of weeks, not months, which can be the case with some of the major banks.”
Mr Harding added that he was pleased to be named to this position in what he believes to be an exciting time for Tasmanian small- and medium-sized enterprises (SMEs).
“While the big banks are withdrawing from Tasmania, TPT Wealth is expanding. [SMEs] are the backbone of the economy, and we see tremendous opportunities for growth,” he said.
“Business owners need to know when they seek finance, decisions can be made locally by people who understand their needs.”
[Related: SME lending ‘desperately needs better regulation’, says lender]
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