MyState sets out proposition to broker channel in NSW and Victoria

by Mike Wood05 Oct 2021

MyState Bank head of lending distribution Blake Albones has laid out how the Tasmanian bank are investing the broker channel to help them to expand into New South Wales and Victoria.

Albones spoke to Australian Broker to announce the addition of two key new faces in their BDM team, 35-year industry veteran Tony Stiles and ex-NAB and St George Bank exec Ron Galvan.

“With MyState at the moment, it’s all about brand awareness,” said Albones. “We’ve got the customer advocacy and broker advocacy, and that will continue as Ron and Tony grow that at the broker level.”

“Tony has a long tenure in the mortgage industry, he’s worked for a major bank and been a broker, as well as being on the credit side and bringing that DCA to the table. If you’re looking for a more rounded BDM in the market, you wouldn’t find one.”

“Ron has a bit of a different background, having spent over a decade as a BDM on the lender side. He’s got experienced networks with some of the major aggregator groups.”

“For us, that’s about connecting with the bigger players to have more of an impact. They’re two very targeted recruits.”

Read more: What NAB’s fixed rate rise means for home loans in 2022

Albones added that the new hires would be able to propel MyState Bank into being a major player in the mainland Australian mortgage market, setting out a clear proposition to the broker channel.

What we’ve been able to do in Tasmania, where we’re either number one or number two lender consistently, is know that our proposition is a good one and that it’s a great story. So the question is how we pick that story up and take it to the bigger market of New South Wales and Victoria.

These guys have been entrusted to do that. They have established networks and, from day one, can call on brokers that they’ve dealt with in the past, built relationships and tell the story that way.

I’ve always been a believer in the path of least resistance: the difference between products and rates is not massive, though it is important in terms of matching a customer and a product.

The part of least resistance of dealing with a lender that has proven two-day turnaround over a number of consecutive months, and also knowing that they have a BDM who will go into bat for them. We can provide that support to make sure that the broker’s brand looks important as well.