NatWest to slash BDM team by half
Share
NatWest Intermediary Solutions, the intermediary arm of the Royal Bank of Scotland, is cutting its field based BDM team from 40 to 19.
It is also reducing its sales managers from four to two and cutting another six roles within its administration/business support team.
Its phone-based BDM team remains unaffected at 11.
Staff at the lender are currently in consultation and it hopes the process will be completed by the end of March.
A spokesman for NatWest, says it is looking to redeploy a number of BDMs within RBS, but exact numbers will not be known until the consultation process comes to a close.
A spokesman for NatWest, says the move is part of an ongoing UK-wide review of the RBS Group’s retail operations.
He says: “To reflect the current mortgage market conditions and to continue to operate an efficient and sustainable business, there will be a reduction of roles in its field sales team, sales management and business support teams.
“The majority of roles are not subject to any change. We are working through a process with those members of staff affected by this decision. We will do all we can to support our people and to keep compulsory redundancies to an absolute minimum.”
In December the lender launched a new website for brokers, with the aim of making it easier for them to do business with it.
The spokesman adds: “NatWest will continue to be a strategic mortgage channel for the RBS Group and we are committed to offering intermediaries a great range of mortgages that is supported by excellent service.”
Yesterday RBS announced that it was to cut some 3,500 jobs as part of a shake up of its investment banking division.
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
View results 10 per page | 20 per page
Readers' comments (16)
Phil | 13 Jan 2012 11:17 am
Thanks for all your union contributions, they paid for some nice xmas parties last year.
seriosly though, not surprised as not enough business to support such a big team anyone.
Unsuitable or offensive? Report this comment
kevin fowler | 13 Jan 2012 11:18 am
we won't notice the difference
Unsuitable or offensive? Report this comment
Tim Lynch | 13 Jan 2012 11:19 am
Can't believe they are doing this - one of the main reasons I use them is because they have a great BDM!
If I no longer have a BDM and am forced to accept the livetalk decision then it will only result in NatWest getting less business, because the operators on livetalk do not have the same criteria knowledge as the BDM.
Makes you wonder whether NatWest actually want less business !?
Unsuitable or offensive? Report this comment
Arron Bardoe | 13 Jan 2012 11:46 am
As has been said, this will be a shame. LiveTalk is great for quick answers, but more and more cases are not straightforward despite being "prime". BDMs are great in identifying if cases fit and sorting out problems.
I agree they must be seeking less lending as they made the BDMs more remote by pushing ALL enquiries through LiveTalk, so we have submitted less business and now they are saying the business levels do not justify the number they have.
Get them back on the road and they will see business rise again.
Unsuitable or offensive? Report this comment
Anonymous | 13 Jan 2012 11:49 am
Our NatWest BDM and her management team behind her are very good. I am very surprised and saddened to hear this news. Best wishes to all those affected...
Unsuitable or offensive? Report this comment
Bobby | 13 Jan 2012 12:08 pm
Sarah Hollywood is a very good bmd. I hope she is not one of the casualties.
Unsuitable or offensive? Report this comment
GARY | 13 Jan 2012 12:17 pm
Coming from a bank background I'm glad I never paid into the UNION.. I thought it was a waste of money then, and I've been proved correct now.
Ten of thousands of low paid bank staff have been given the boot & the unions do NOTHING....Disgusting, they should all cancel their subscriptions & the Unions should be ashamed of themselves.
Unsuitable or offensive? Report this comment
Caroline | 13 Jan 2012 12:52 pm
As has already been said this is a major mistake if NatWest really are interested in increasing business. Their BDMs are key and they have some excellent ones, Jo-Anne Pitt who is mine is the reason that they get as much business as they do from me. I have tried live talk and found it to be useless - like reading a manual which any of us can do. Incidentally I used to work with all of these guys so I know what a great team they are. Such a shame. I wish them all the best of luck.
Unsuitable or offensive? Report this comment
Aaron Griggs | 13 Jan 2012 1:04 pm
I hope Paula Dillon is safe ?
Great BDM, Never had a problem with her or an issue that she didn't resolve.
Unsuitable or offensive? Report this comment
James Lindon-Travers | 13 Jan 2012 1:40 pm
This is a dreadful situation all round. Graeme Felstead was brought in to migrate four lending brands into one which he did very well. The service has improved dramatically and we have some great people looking after my business. Our BDM, Anthea McGlade ranks amongst one of the best - I am sure she will survive but will now have to go through the angst of reapplying for her job. Our telephone based Case Manager, Mark Hammond is one of the best in the mortgage industry and he is now seen as surplus to requirement. Nat West is one of our biggest lenders and just as when everything was going so well this happens. In addition to this our Commercial BDM, one of the best credit managers in the business, is also being made redundant.
To make matters worse, my sources in Private Banking tell me that Nat West are planning a big recruitment drive for branch based Mortgage Advisers!
A kick in the teeth all round for intermediaries - a very sad day!
Unsuitable or offensive? Report this comment