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Breaking News: Kathy Cummings leaves CBA

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Australian Broker | 15 Nov 2013, 07:00 AM Agree 0
CBA's long-standing executive general manager of third party distribution, Kathy Cummings, will leave the major bank at the end of the year
  • Broker | 15 Nov 2013, 12:10 PM Agree 0
    Well at least the constant bagging of Brokers for being so inefficient will be reduced somewhat!
  • Scott Beattie | 15 Nov 2013, 12:13 PM Agree 0
    First Kevin Rudd, now Kathy Cummings... What a week!!
  • oldBroker | 15 Nov 2013, 12:38 PM Agree 0
    Had a few dealings with Kathy at the MFAA board level. She never wore her MFAA hat for those meetings... always wore the CBA hat. Difficult and myopic woman.
  • Another Old Experienced Broker | 15 Nov 2013, 01:10 PM Agree 0
    A lot of respect for doing a tough job over the years & best wishes, Kathy in whatever your future endeavours are. I

    Now, CBA, PLEASE get someone who really does support the broker channel & recognises that Brokers want to work in partnership with the Banks, & stop treating us with contempt & remove the impediments of doing business with you....like enforceable volume hurdles which fly in the face of NCCP, unannounced cancellation of Accreditations whilst approved deals are in still in progress, some of the archaic policies around bank statements....
    CBA you do some stuff really really well, and some stuff really really poorly.
  • Old Broker | 15 Nov 2013, 01:13 PM Agree 0
    I very rarely comment on people in writing but in this case I must join the chorus of support (NOT) for Cathy and 'her work for brokers' over the past 20 years
    I remember a WBP breakfast several years ago where she was on the panel that had to be shut down a little earlier than expected due to the increasing number of brokers advancing to the podium, some of whom were shouting at her after some of the most insulting comments I think I have ever heard by a person of influence in a major bank.
    Farewell and happy trails as long as it is somewhere else!
  • Alex S | 15 Nov 2013, 01:14 PM Agree 0
    Never had an issue with Kathy. In meetings, she was attentive and change followed. Our CBA BDM is one of the best we deal with.
    CBA is not our major platform, but in the top 5.
    Good luck to her, I know what it's like to try to implement change in a major bank, and also what it's like to deal with introducers full of good intentions, often not matched by their credit skills.
  • Happy Broker | 15 Nov 2013, 01:31 PM Agree 0
    I may now consider putting CBA on my recommendations panel again -lets see if they can make good the service our customers deserve and as brokers we receive some respect for the service we give - bring on the incumbent!
  • John Broker | 15 Nov 2013, 01:48 PM Agree 0
    If we removed everyone from the banking industry who is unpopular, there would be a lot of empty chairs.
    Kathy could be polarising, and difficult to work with on committees, but at least she was passionate about her beliefs even if at odds with others at times.
    I think she was a good servant for her masters.
  • Bruce Mawson | 15 Nov 2013, 01:48 PM Agree 0
    I too spent time on the MFAA Board with Kathy and while there were many robust debates (as there should be) I would like to assure the industry she was always focussed on progressing the industry and improving the capabilities of Brokers.

    Many of the disgraceful comments in this forum are a reasonable sign we still have a lengthy journey in our quest for professionalism.

    Until any of us have achieved the level of marketshare Kathy and her team have, we should perhaps keep our criticism's to ourselves. At least put your full name to your comments.
  • Shocked! | 15 Nov 2013, 01:55 PM Agree 0
    Kathy was and still is an amazing and inspirational lady who CAN and SHOULD be credited with growing the broker channel to where it is today. Those with a differing opinion to that are often found to be those who do not wish to work as hard at their profession as others.
    Kathy's supporters being the best brokers in the business and her unparalleled market share, not to mention her people- Damian Muir (BDM of the year )anyone?? - are a testament to the Lady.
    CBA will miss her dearly if they are aware of this yet or not.
    Show me any one person who has done more for the broker industry in this country!
    I wish Kathy the best of luck and hope that people remember her as a pioneer and a fantastic example of TRUE Leadership!
  • Laurie Parkes | 15 Nov 2013, 02:00 PM Agree 0
    This is very sad news for our industry. Kathy has been a salwart, an advocate for brokers and a huge suppoter of our Industry and I for one will miss her. If it wasn't for Kathy, our industry would not be the vibrant succesful and profitable business that we now have.
    Kathy, I wish you all the best. Thank you for what you have done (doesn't sound adequate) and hope that you stay in our industry somehow.
  • Damian Percy | 15 Nov 2013, 02:54 PM Agree 0
    Kathy may not have been everyone's cup of tea but it cannot be denied that she made an impact on the industry. It will be a different - as possibly less colourful - sector without her.
  • callme SLATS | 15 Nov 2013, 05:35 PM Agree 0
    An industry hero I think of whenever I hear the lyrics:

    "Did you ever know that you're my hero,
    and everything I would like to be?"
  • Bryan Coleman | 18 Nov 2013, 11:42 AM Agree 0
    What a great loss to our Industry!. I read with great sadness (and disappointment) some of the negative comments that have been posted here. As a broker of 12+ years, I would have to say this industry would not be where it is today without the tremendous input and direction from Kathy. We use Commbank regularly and I am sure it is no accident that the quality and consistency of service ( pre and post) would not be of what it is without Kathy's input and leadership. Congratulations Kathy, you can leave this industry with your head held high. You are leaving large shoes to fill and I salute you . Thank you for your dedication to the Third party Channel.
  • Positive Broker | 20 Nov 2013, 07:27 AM Agree 0
    I have never dealt directly with Kathy but I do believe the culture she fostered at CBA makes it very difficult for many brokers to use CBA. If you are giving CBA $5m a month you might be getting pretty good treatment but for the majority of brokers I know we tend to steer clear of CBA. I am sure Kathy was a good operator but I will not miss the constant criticism of brokers abilities when in my experience CBA staff have a very long way to go before they can start criticising us.
  • Don WA | 20 Nov 2013, 11:36 AM Agree 0
    CBA used to our top 5 preferred platform but since they brought in the minimum volume I voluntarily cancelled my accrditation with CBA because I refused to be dictated by any bank. They need me, I don't need them.On her way to get what she wants, she burnt many bridges along the path.
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