Westpac appoints Tony MacRae as Head of third party distribution

MacRae expected to bring strategy, sales management and specialist knowledge in distribution business to the unit.

Westpac has appointed Tony MacRae as its new general manager of third party distribution, with Huw Bough moving across to RAMS as its general manager of franchise business.

MacRae will take a step up from his current role as NSW state general manager of Westpac's commercial banking business, and has previously held positions that have included acting CEO of RAMS Financial Group and general manager of Westpac Third Party Distribution.

Westpac group executive retail and business bank Rob Coombe said MacRae brings strategy, sales management and specialist knowledge in distribution business to the role

"Tony's breadth of financial service leadership experience means that he is well positioned to grow Westpac's mortgage broker business," Coombe said.

"Westpac's third-party distribution network is an integral part of the banks strategy, with approximately 45% of all new residential home lending business written through the broker channel."

Coombe said outgoing Huw Bough had put Westpac's third-party broker distribution division in a very strong position.

View the full story in International Business Times.