Westpac will downsize branch numbers gradually... YBR adds on mortgage insurance products...
Westpac CEO reveals new strategy for growth
Westpac will downsize its branch numbers gradually, chief executive Brian Hartzer announced on Monday, rather than repeat the “sledgehammer approach” of the 1990s, The Australian reports.
The bank aims to attract more than a million new customers by 2017, using technology to heighten their customer service offering.
A new program is set to increase the bank's savings to $270 million per year and drop expense growth to 2-3 per cent.
“I’m a big fan of stretch targets,” Mr Hartzer told The Australian.
“I’ve found in my career that when you set targets that are a bit scary it’s amazing how the company can rally and find ways to solve it. It’s one of the things that makes all the difference in execution.”
YBR adds on mortgage insurance products
Yellow Brick Road has struck a deal with US life insurance company MetLife, according to an article in the Sydney Morning Herald.
The wealth group will introduce its "Yellow Brick Road Loan Protect" and "Vow Loan Protect" mortgage insurance in October and plan to include life and income protection products from early 2016.
The products are underwritten by MetLife and will be sold via YBR's network of 255 licensees and 850 Vow Financial brokers.
"The broker market has been underserviced for some time," MetLife chief executive Deanne Stewart said. "This partnership is a means for MetLife to address that service gap with a quality retail insurance offering, utilising Yellow Brick Road's strong network of advisers and brokers."
Westpac will downsize its branch numbers gradually, chief executive Brian Hartzer announced on Monday, rather than repeat the “sledgehammer approach” of the 1990s, The Australian reports.
The bank aims to attract more than a million new customers by 2017, using technology to heighten their customer service offering.
A new program is set to increase the bank's savings to $270 million per year and drop expense growth to 2-3 per cent.
“I’m a big fan of stretch targets,” Mr Hartzer told The Australian.
“I’ve found in my career that when you set targets that are a bit scary it’s amazing how the company can rally and find ways to solve it. It’s one of the things that makes all the difference in execution.”
In depth: Tales of starting out from five new brokers
We hear how five brokers found their feet in the first 12 months in the industry.
We hear how five brokers found their feet in the first 12 months in the industry.
YBR adds on mortgage insurance products
Yellow Brick Road has struck a deal with US life insurance company MetLife, according to an article in the Sydney Morning Herald.
The wealth group will introduce its "Yellow Brick Road Loan Protect" and "Vow Loan Protect" mortgage insurance in October and plan to include life and income protection products from early 2016.
The products are underwritten by MetLife and will be sold via YBR's network of 255 licensees and 850 Vow Financial brokers.
"The broker market has been underserviced for some time," MetLife chief executive Deanne Stewart said. "This partnership is a means for MetLife to address that service gap with a quality retail insurance offering, utilising Yellow Brick Road's strong network of advisers and brokers."
In depth: A broker for life
Andrew Kelly, managing director of Anasta Finance Consulting, is a multi-award-winning broker who has no intention of slowing down
Andrew Kelly, managing director of Anasta Finance Consulting, is a multi-award-winning broker who has no intention of slowing down
