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CBA made a number of changes to its broker policies this year under the stewardship of general manager of third party banking Sam Boer. The changes, namely a controversy around accreditation, did not make him particularly well-liked among brokers— something he admitted at MPA’s major banks roundtable back in February.
But the experienced manager is now turning over a new leaf and is leaving CBA— and any disgruntled brokers— behind.
After nearly 15 years with the major bank, REA Group announced Tuesday that Boer would be joining leading broking franchise Smartline as its new CEO. REA acquired an 80.3% stake in Smartline in June 2017.
Smartline settles more than $6bn in loans annually and has a total loan book of about $25bn. Its director, Joe Sirianni, is a sought-after expert on broking topics and was recently part of the Deloitte Australian Mortgage Report 2018 roundtable.
Andrew Russell, REA Group executive general manager-financial services, said in a statement that “Sam brings a wealth of experience to this role and has a long history of leading high performing teams to deliver value for customers”.
His ability to navigate a rocky period at CBA might have made him an even more appealing candidate for the Smartline role.
In the statement, Russell said: “His recent experience at CBA and standing in the industry make him perfectly placed to lead Smartline into a new era of broking and finance.”
Smartline executive director and co-founder Chris Acret said Smartline was delighted that Sam would be joining the franchise to lead it into its next phase of growth.
“We’ve known Sam a long time, he has strong industry experience and we are very comfortable that he will be a good fit for the business and our people,” Acret said.
Boer’s last day at CBA is 3 August. He will be joining Smartline on 14 August, working from the North Ryde, Sydney office. CBA has not announced who will replace him.
“I have known and admired the Smartline team for many years and am delighted to have been selected to lead the business in its next exciting stage with REA Group,” Boer said in the statement.
“I look forward to meeting up with the Franchisees, staff and all other stakeholders that support this quality business and working with them to achieve further success in the years ahead,”
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