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Training BDMs to the level required takes 'up to a year'

Theo Osborn | 09:00 Wednesday 20th March 2019

Investec Private Bank’s BDM Peter Izard (pictured above) has stated that if you don't invest in people, you won’t get the outcomes that you need.

The bank’s mortgage intermediary team — which has been sourced from within the business and is headed up by Peter — currently works with over 1,000 individuals at more than 250 firms.

It consists of six BDMs and seven private bankers, the latter of which operate as underwriters.

Since Peter joined four years ago, the division’s lending volumes have trebled. 

In an exclusive interview with Specialist Banking, Peter explained that the division’s key differentiator was that the team was trained to do more than just take an enquiry.

As a result, he spends up to a year training each new BDM to the level that he requires.

“I say it takes a year, [but] it doesn't take a year for them to be out on the road. 

“It doesn't take a year for them to be structuring deals etc.

“But in my mind, it’s a year’s investment to get them to the point where I [can] turn around and say, 'They are truly free.’

“And that's an input that takes a huge amount of my time, but actually, if you don't invest in people, you don't get the outcomes that you need.”

Peter said that following six months of training, the BDMs would be doing accompanied visits, before going out solo roughly after a year.

He added that his BDM team has the ability to structure a deal, provide indicative terms and go out to see the intermediary with outlying terms before an underwriter is involved.

"Now that's pretty unique, because by this time, it has normally [long since been] handed over to a banker (underwriter).

“We hand it over when the intermediary comes back and says, 'Yes, look my client wants to proceed.’”

Investec will then formally introduce the private banker, who will take the client forward for a credit submission, credit sanction and take it all the way through to application and completion.

“All the time, my business development team, while still seeking new opportunities and new business, will be having an overview of that case.

"…Most BDMs are there to develop business, to promote the brand to the intermediary circle and to effectively discuss cases at a high level.

"We do all of that, but we take it to the next stage.”

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