NatWest to slash BDM team by half
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. He 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.