Macquarie decision means less choice for brokers
Bill Cooper, global head of insurance at Lloyds Bank's wholesale banking and markets, has expressed his surprise at the decision of Macquarie Bank to pull out of UK broker lending.
Reacting to the news of Macquarie's decision to cease cashflow lending to brokers with immediate effect, Mr Cooper said: "I am a little surprised because my understanding was that they had a good market position in an area where they were filling a gap. It is a shame for the broker market to lose that choice."
He agreed that the decision would lead to less choice for brokers.
"They [Macquarie] were providing a service that others weren't keen to provide so I think that [their withdrawal] is a
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