Second tier undertakes BDM restructure

by Mackenzie McCarty01 Jun 2012

Suncorp is in the process of reviewing its overall BDM headcount, with channel manager Steven Heavey saying the second tier is currently "a bit overweight".

As part of a series of changes Heavey has overseen since his appointment, he has confirmed for Australian Broker the bank will be reducing BDM headcount from 30, to in excess of 20.

However, Heavey said the bank was only now in the process of implementing the changes, with some BDMs to be redeployed to other channels including retail and business lending arms.

He also asserted that since the bank had reinstated the broker channel as a separate business, there had been four state manager appointments, meaning the overall net impact was minimal.

"We are in the middle of a review, and no individual has been advised they won't be needed," he said.

"At the end of the day, there may be some people that aren't required, but we will do everything we can to redeploy these people into the broader business," he said.

Heavey said since coming on board, he has overseen a strategic review which has included changes to commissions, and the introduction of back office changes to improve workflow.

He said the review of its BDM footprint on the ground was the next stage of this business review.

"We only have a market share of 6% of the broker market," Heavey said.

"We've looked at our model, and looked at the market share we currently have today. We believe that we don't require 30 BDMs to deliver the results we are looking for. With the market share we have, we believe we are a little bit overweight," he said.

"We have been able to improve efficiency and productivity through our investment in technology, and we are now looking at appropriate resourcing in the field to deliver broker channel growth."

Heavey reasserted the desire for Suncorp to further embrace the broker channel despite the BDM review.

"Our goal is to outgrow system, and in terms of the ratio of business that is weighted to the third party channel we still have growth aspirations. We are full steam ahead," he said.

COMMENTS

  • by Stephen Dinte 1/06/2012 9:54:31 AM

    Until Suncorp get their credit area firing on all cylinders, any reduction in BDM numbers is probably somewhat premature. My recent experiences with this lender have been underwhelming and it is only as a result of the intervention of my BDM that the deal proceeded. "Don't shoot your messengers".

  • by Marc 1 1/06/2012 9:56:03 AM

    Cut Andrew Love in the ACT at your peril Suncorp. He's one of the few reasons I use Suncorp - and you are constricting your credit policy when every other bank is opening thiers.

  • by Brisbane broker 1/06/2012 10:04:16 AM

    Well, they could reduce to 1 as they do very little apart from sit at home and answer the phone. Haven't seen ours in over 12 months.