STATE BANK OF INDIA UK has appointed former Bank of Ireland (BoI) executive Iain Smith as its new head of intermediary, a statement said on Thursday (28).
In his new role, Smith will be responsible for managing the sales teams dealing with intermediaries placing Buy to Let business with SBI UK and leading the growth of the Buy to Let mortgages business, the statement added.
Chief business officer at SBI UK, Abhishek Sahay said: “We are very excited to have Iain join us. Buy-to-let continues to be a very competitive space and we are keen to increase our impact in this market. Iain has the experience and expertise to lead our presence in the intermediary space.”
Smith has 25 years of experience in the mortgage and lending markets. Previously, he was the head of intermediaries at BoI. He also spent 23 years at Yorkshire Building Society and was part of the team that helped launch Accord Mortgages.
Smith said: “I am delighted to be stepping into this new opportunity with SBI UK. Enabling SBI UK to take the next steps into a new period of growth following its centenary of operations in the UK is my number-one priority. It is a privilege to be working with a bank like SBIUK.”
Last year, SBI UK celebrated 100 years of operation in the UK and recently held an economic conclave in London on the trading relationship between the UK and India.
Since 2018, SBI UK has subsidiarised its retail-banking franchise, SBI (UK) Limited, which has since grown to 11 branches across the UK. It has expanded its product offering to include competitive buy-to-let mortgages and recently, a range of green mortgages to encourage responsible energy conservation, the statement added.
