Weston nabbed by Barclays for innovation

by Adam Smith14 Feb 2012

Departing Advantedge general manager of broker platforms Steve Weston has said he was actively scouted for his new role at Barclays.

Advantedge yesterday announced that Weston would depart the aggregator to take on the role as managing director of mortgages for Barclays UK. Weston said he was tapped for the role as a result of the global perception of the Australian mortgage market.

"They approached me," Weston told Australian BrokerNews. "They did a global search, and they very clearly identified the Australian mortgage market as the most sophisticated and mature in the world, and they targeted Australia to identify people for this particular role."

Weston said the role with Barclays would allow him to have an active part in a "major player in the global banking space", and said he would continue to work with brokers in the role.

"I'm going to look after broker distribution, and about half of their new flows come from brokers," he said.

Weston is set to leave Advantedge around the end of March, and said he felt proud of having successfully guided the company through the GFC. He also pointed to the broker platforms and support he introduced while head of Advantedge.

"I genuinely believe that what we have built and invested in Advantedge to support brokers will be a positive legacy. In this economic environment, it's difficult for aggregators to support brokers, but we've been able to invest and will continue to invest to provide brokers with more support," he said.

COMMENTS

  • by Country Broker 14/02/2012 9:50:11 AM

    No surprise why Barclays wanted this innovater and thinker , he is by far the best speaker I have heard on the subjects of funding , cost of funds and the GFC as well as aggregation in general , as a PLAN member I will miss him.
    The challenge for the NAB is to find someone of the same quality to fill his role!~!

  • by Concerned 14/02/2012 2:01:27 PM

    How could Advantedge let him slip through their fingers? He is the best in Australia.

  • by Riverina Broker 15/02/2012 9:41:41 AM

    Congratulations and best wishes Steve Weston thank you for your contribution to our industry. We already look forward to your return with anticipation of new and exciting avenues to explore to make us better at what we do. Enjoy your time in the UK