RBSIP denies it needs to restore BDM balance

Royal Bank of Scotland Intermediary Partners has denied that voluntary re-dundancies have been off-ered to staff in a bid to balance middle management and business development managers.

Last week, RBS’ union Amicus confirmed that 30 people have been offered voluntary redundancies and redeployment from the 250-strong team at RBSIP.

One source alleges the redundancies are a result of a swift turnover in BDMs over the past year, resulting in there being more corporate account managers in place than BDMs.

Another source says: “Some of the managers only had two accounts to look after and this situation was not sustainable.”

But Chris Pearson, director of intermediary mortgages at RBSIP, says: “This restructure is not about balancing BDM staff with management or head-counting. We want to grow our broker proposition and to do that we have to restructure.

“We will use redundancies as a last resort. There are great opportunities at RBSIP.”

A former senior staff member at RBSIP says the lender’s dim-inishing appetite for broker business has “beaten out” staff.

He adds: “Staff are leaving because they do not be-lieve RBS has an appetite for broker business. The entrepreneurial people are being beaten out by RBS.

“Mortgages are not RBS’ lifeblood and it will continue to pull investment from this sector.”

But Pearson adds: ‘We are committed to building a successful intermediary business for RBS. You’ve got to expect and embrace change in a dynamic marketplace such as this and sometimes that means structural change.”