TSB Bank has appointed former Bristol & West Mortgages managing director Roland McCormack as its first mortgage intermediary director as it sets out plans to start lending through brokers by early next year.
McCormack, who will build the broker team at TSB, has 20 years of experience in the intermediary market including running Bank of Ireland and Bristol & West Mortgages. He was also managing director of Connells Asset Management between 2009 and 2010.
He will report to Peter Navin, TSB managing director of branch and business banking.
McCormack will be responsible for overseeing the build of TSB’s intermediary arm. His first task will be to form a 200-strong team ahead of the launch of the broker arm.
TSB chief executive Paul Pester says: “I am delighted to welcome Roland to TSB. He has a great track record in transforming businesses so I have no doubt he will build a strong intermediary business for TSB.
“TSB was designed to bring more competition to UK banking and the launch of our intermediary arm will do just that.”
McCormack says: “TSB is already making an impact on the high street and our aim is to shake up the intermediary market too. This is an exciting milestone for TSB and I am thrilled to be launching a new brand to the broker community.”
Lloyds Banking Group created the TSB brand in September out of the 631 branches it was forced to dispose of by the European Commission as part of receiving state aid in 2008. The Co-op Bank’s bid to buy the Lloyds branches collapsed last April.