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The non-major bank has appointed a new general manager, lending to lead its broker distribution, retail home lending and end-to-end lending operations.
MyState Bank has confirmed that Tim Newman has been appointed as the bank’s new general manager, lending.
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Mr Newman — who has been MyState’s head of business transformation for the past year — has more than 20 years of financial services experience, having been an executive for financial crime and head of product at ING (where he worked for nearly 15 years), and having worked as a lender panel and product analyst at Mortgage Choice in the early noughties.
In his new position, he will take responsibility for MyState Bank’s lending portfolio, including its broker distribution, retail home lending, and end-to-end lending operations.
He takes on the position after the former head of home lending Blake Albones left the bank to take up the role of chief sales officer at Galilee Solicitors and the bank’s general manager of banking Huw Bough retired.
Commenting on the appointment, MyState Bank chief executive Brett Morgan, said: “We’re thrilled to have someone of Tim’s calibre and expertise take on leadership of our lending portfolio.
“He brings with him an incredibly diverse skill set that will only serve to better the experience for our broker partners, lenders, and customers, at a time when they most need an empathetic and human approach from their bank. We’re looking forward to seeing all that he achieves in the new role.”
Mr Newman commented: “It’s a huge privilege to be taking on this role and continuing the great work that the MyState Bank lending team is doing.
“I’m passionate about helping our lenders and our broker network so that they can continue to support Australians in a way that is unique to MyState and look forward to continuing the team’s success.”
This appointment followed MyState Bank’s continued growth in its lending business, with its portfolio increasing by 40 per cent over the last two years, in addition to ongoing recognition for the experience provided by the bank to its broker network.
Indeed, its most recent financial results (for 1H23) show that the third-party channel helped deliver record home loan settlements for the Tasmanian-based lender in 1H23.
The lender’s home loan portfolio grew to $7.6 billion, up 10.5 per cent on June 2022 and settled a record volume for the half; $1.57 billion, up 6 per cent on the prior comparative period.
Speaking to The Adviser, MyState's chief executive Brett Morgan said that brokers were “the backbone” of the bank’s distribution of mortgages, flagging that the share of mortgages originated by brokers had been growing in the past two years.
Mr Morgan revealed that 81 per cent of the bank’s loan book was broker-originated as at December 2022, up from 73 per cent 18 months earlier (in June 2021).
[Related: Former MyState head of lending distribution joins law firm]
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