SPECIAL REPORT
HOT LIST 2017 JUSTIN DOOBOV
SIMONE TILLEY
Managing director
General manager retail broker distribution
Intelligent Finance
ANZ
Justin Doobov may well be the most competitive man in the mortgage industry, and one of the hardest working. After being thwarted in 2015 and 2016 – despite writing over $300m in both years – Doobov clinched no. 1 in this year’s Top 100 Brokers report with a record total of almost $360m in residential lending over 12 months. Writing such staggering numbers simply cannot be achieved without an excellent team and considerable willpower: luckily Doobov has both. Intelligent Finance is structured so Doobov’s time is spent on high value activities and he is constantly looking for efficiencies, promoting staff depending on ability. Doobov’s willpower is needed to deal with constantly changing bank appetites. He spends hours on the phone, unwavering in his belief that “no is negotiable”.
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If any major bank can claim to have had a good year in the broker channel, it’s ANZ. Under Simone Tilley’s guidance the bank has experienced a surge in market share, taking 18.3% of all mortgages in AFG’s Competition index for August, higher than any other lender. Ironically, ANZ’s low market share in recent years is itself a significant advantage. According to JP Morgan’s Australian Mortgage Industry Report, ANZ is best positioned among the majors to grow its investor lending portfolio because it has not reached portfolio limits or APRA’s 10% growth cap. Although Tilley has been vocal about keeping ANZ open for broker business, the bank is not immune to regulatory pressure and has introduced an extensive new interview guide for brokers.
JEREMY FISHER
JOHN SYMOND
TONY MACRAE
Director
Founder
General manager third party distribution
1st Street
Aussie
Westpac
This year saw major changes for 1st Street, with the appointment of a chief operating officer to assist Jeremy Fisher, who had previously run the business himself. 1st Street is expanding nationally, taking on brokers in addition to a financial planner; insurance and commercial lending are also continuing to grow. This expansion was recognised at the Australian Mortgage Awards, with 1st Street taking home the NAB Australian Brokerage of the Year award.
August spelled the end of an era for mortgage broking, as John Symond sold his remaining 20% stake in Aussie to Commonwealth Bank. The additional $164m from the sale will help Symond pay for his new 239-foot superyacht, launched in Holland earlier this year. Yet while the 70-year-old Symond has every right to ride (or sail) off into the sunset, he continues to be outspoken about bank misconduct and actively defends broker commissions in the media.
Westpac made it three in a row this year, being voted Bank of the Year in MPA’s Brokers on Banks report by a comfortable margin. Yet the overall first-placed results didn’t tell the whole story: under Tony MacRae the bank was ranked among the top three for every category of service, and won in areas such as commission structure, an area in which major banks traditionally struggle. Westpac’s Flexi First Option Home Loan was also voted Product of the Year by brokers.
www.mpamagazine.com.au
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