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hot list
Name: Tanya Sale Title: General Manager Organisation: finconnect
Hot Props: Never shy to voice her
global players
opinion, Sale was a vocal opponent in 2009 of fast-track financial planning conversion courses for brokers. She questioned who would go to a broker with just a nine-day course under their belt and ask for advice on life savings. One training course provider said that Sale’s comments were “ill-informed”. Sale has also spoken out on the future of part-timers in the industry, stating that there was no place for brokers going forward who couldn’t commit a full-time effort to the job.
Sale questioned who would go to a broker with just a nine-day course under their belt and ask for advice on life savings
Name: Paul Gollan Title: Director/CEO Organisation: Australian Mortgage Brokers (AMB)
Hot Props: Gollan could have fitted into the ‘innovators’ category for his efforts to expand his franchise group’s aggregation service to include brokers who operate businesses under their own brand name. However, he is an excellent example of an industry instigator for commenting on big issues, such as RAMS’ decision to cut off low-volume aggregators. While Gollan conceded AMB volumes had been low in the six months leading to RAMS’ decision, he attributed it to RAMS’ “outrageously slow service”.
Name: Ben Bernanke Title: Chair Organisation: US Federal Reserve
props: Bernanke boldly declared that the current recession was “very likely” over in September 2009, but predicted the US economy would remain weak for some time and national unemployment rates would come down slowly. Bernanke has been lowering interest rates in the US to ease the burden on borrowers. Going forward, he will be charged with the task of working with examiners to identify risks and imbalances in the system.
not hot! Name: Richard Branson Title: Founder and chairman Organisation: Virgin Group
props: Virgin Money credit cards and term deposits will return to Australia this year following the company’s joint venture agreement with Citibank. Mortgages are also in the pipeline for Australia, driving fresh competition into the market. Globally, Branson’s entrepreneurial flair shows no signs of abating, with a UK banking licence next up on their agenda.
Name: Mervyn King Title: Governor Organisation: Bank of England
props: In late 2008, King was reappointed to the position of governor in spite of it being quite unlikely at the time. He was widely criticised for initially not pumping money into the British financial system to ease the credit crisis, famously saying at the time that such action would serve only to reward the banks for their reckless lending. Rather, he felt the banks should feel a bit more pain. However, under pressure, King eventually relented.
Name: Barack Obama Title: President Organisation: Government of the United States of America
props: His ‘We Can’ electoral campaign might have seen him historically into the White House, and he might just be the most popular US president since JFK; but there is no time for Barack Obama to sit back and enjoy the sunshine. Obama was elected on a promise of sweeping change, but many Americans are becoming impatient that a full year after his election his pledge has not yet borne fruit. However, Obama is quick to remind people that his biggest problems, from the economy to the war in Afghanistan, are the legacies of his predecessor, George W Bush.
Name: Mark Whittingham Title: Founder Organisation: Home Loan Selection Services (HLSS), Lead Search NOT HOT: The elusive Mark Whittingham continues to flog his databases of leads and continues to enrage brokers. No other individual in the industry has incited more angry e-mails and threats of legal action than Whittingham, with brokers alleging they have been sold worthless leads, old leads, leads they received in the past or in some cases no leads at all. Such outrage has provoked Whittingham to contact MPA on occasion to defend himself and issue counter threats of his own. And while his Lead Search business was wound up in June, he has continued with his e-mail sales campaign. Name: Adrian Camilleri NOT HOT: The former Sydney mortgage broker and ex-boyfriend of supermodel Miranda Kerr was sentenced to 21 months’ imprisonment with a non-parole period of nine months after being found guilty of one count of fraud. Camilleri received $123,441 from an investor to be used for either investment in short-term secured loans or to be returned – neither of which happened. Camilleri fraudulently omitted to account for them. Name: Samer Hraiki NOT HOT: The former mortgage broker was charged with obtaining $1m by deception. Hraiki allegedly used false documents to entice his victims into thinking they were engaging in a legitimate investment. The case was scheduled to be heard as MPA went to press. Name: Samuel David Saunders NOT HOT: Saunders of Orange, NSW – a property developer and mortgage broker – pleaded guilty in the Sydney Local Court to seven charges brought by ASIC. He was charged with three counts of obtaining money by false or misleading statements and four counts of fraudulent misappropriation of money collected. Each charge carries a maximum penalty of five years’ imprisonment.
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