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Bank of Melbourne eyeing aggressive growth

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Australian Broker | 30 Mar 2011, 05:58 AM Agree 0
The newly-rebranded Bank of Melbourne's CEO is seeking to triple the brand's impact in Victoria, but many brokers are sceptical
  • PT | 30 Mar 2011, 11:53 AM Agree 0
    St George hasn't really supported brokers in the last few years. They've been constantly adjusting commissions (downwards every time). Unless you're a high volume 'flame' broker, you don't even get BDM access. They don't run or attend professional development days and I've yet to see any incentive to the broker market regarding BOM and the broker channel. I know some fairly senior people at St George in Victoria and Kograh. Brokers haven't even really factored into this new initiative. Also despite all the talk about better customer service and back end support, we've yet to see anything solid, like inovative products.
  • Ozboy | 30 Mar 2011, 12:54 PM Agree 0
    Brilliantly said...StG/Westpac/BOM take heed of the free advice.
  • JB | 30 Mar 2011, 04:23 PM Agree 0
    PT is correct. The St George strategy is a disaster & there's no doubt they will continue to disappoint their former boss until they understand how broker's perceive them. It's not that hard, but no doubt, they will hire some new whizz bang Bank person, pay him $ 5 mil to tell them what we already know and then come up with a new broker proposition etc. Yawn, I'd say give it another few months and we'll see changes.
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