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The big four bank has welcomed a new national partnerships manager for retail broker, effective immediately.
Australia and New Zealand Banking Group (ANZ) has appointed Ben Magnus to the role of national partnerships manager, retail broker, effective immediately.
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Magnus has more than 15-years of finance experience and was most recently the head of mortgage broking at Victorian brokerage and financial services group, Empower Wealth.
Prior to that, he worked as a senior business development manager at several banking institutions, including National Australia Bank (NAB) and Bankwest, and had also preiovulsy been a financial management association at EY.
In his new role, which reports into ANZ’s general manager for retail broker, Natalie Smith, Magnus will be responsible for ANZ’s aggregator relationship engagement.
He takes on the role of national partnerships manager after Paul Brick, the former head of strategic partnerships at ANZ Bank, moved into the position of head of broker partnerships at Suncorp Bank (now part of Suncorp).
In his new position, Magnus will particularly focus on executing national strategies that drive mutual opportunities for ANZ and its aggregator partners and work closely with the internal operational teams to “drive consistent service delivery, align business priorities, and strengthen ANZ's representation within the broking industry”.
The new national partnerships manager, retail broker will also be tasked with maintaining a strong focus on business improvement while ensuring brokers have seamless access to ANZ's products and services.
Commenting on the appointment, Smith noted the new appointment’s expertise across business development, sales leadership, operations, and risk management, his strong industry relationships and ability to deliver outstanding results.
ANZ’s general manager, retail broker, commented: "Ben brings a diverse range of experience built from over 15 years in the third-party channel. He will be a valuable addition to the retail broker leadership team and will work closely with the wider ANZ community as we deliver on our strategic priorities into 2025 and beyond.
“His strong leadership skills will complement our business and foster the growth of our valued aggregator relationships."
Speaking of his new role, Magnus expressed his enthusiasm about joining ANZ, adding: "I'm excited to leverage my experience to further enhance ANZ's retail broker value proposition, focusing on consistent service, innovative service offerings, and robust relationships with aggregators.
“I look forward to collaborating with the talented ANZ retail broker team to drive the continued growth and success of this business."
ANZ broker flows at record highs
ANZ has seen strong growth in its broker channel in recent years, with the channel writing nearly two-thirds of the major bank’s new mortgage business in Australia, according to its latest results, a record high.
When releasing its full financial results for the financial year ending September 2024 (FY24), it was revealed that brokers flows for ANZ (excluding Suncorp) increased to 65 per cent in FY24, the highest proportion of new home lending business that the bank has ever seen from the channel.
This makes ANZ the major bank with the greatest flow of broker business, followed by Westpac (where almost two-thirds [63.6 per cent] of new Australian mortgages in 2H24 were written by brokers) and then NAB (whose flows dropped to 61.1 per cent in the six months to September).
The Commonwealth Bank of Australia trails behind at 35 per cent of new CBA flows (for the six months to June 2024) or 39 per cent when including Bankwest.
Overall, the broker channel is now responsible for having originated 59 per cent of ANZ’s Australian mortgage portfolio (when excluding Suncorp).
Similarly, its New Zealand broker share has been increasing, rising 1 percentage point to 61 per cent (with the channel having originated 52 per cent of the group’s home loan portfolio over the Tasman).
[Related: ANZ broker flows hit new record high]
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