Bendigo banks on a return to margin lending
Alexandra Tullio, Bendigo and Adelaide Bank's head of margin lending, has announced that four new gearing solutions managers have been appointed to Leveraged Equities, a subsidiary of the bank. The new managers and the states they will be covering, respectively, are: Claire Starr (QLD) Andy Stevens (WA); Jay Pottenger (NSW and SA); and Peter Bournazos (NSW).Tullio said the margin lending team was "in the final stages" of being able to announce the appointment of a third gearing solutions manager for NSW, and its first for Victoria.The announcement puts into practice another piece of the strategy, one that was outlined in July by the bank's managing director, Mike Hirst, when he said the bank intended to boost investment in its margin lending business.Hirst said at the time that the bank was increasing its leveraged equity capability after "a better than budgeted result", and in anticipation of a lift in investor sentiment that would be reflected in increased borrowings.