McCormack will help shape the intermediary channel ahead of its launch and the bank expects to recruit 200 people to the divison. He has previously worked in the intermediary space with both Bank of Ireland and Bristol & West Mortgages.
TSB chief executive Paul Pester said: “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 said: “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.”
The TSB brand returned to the market last September after Lloyds Banking Group was forced to divest part of its business by the European Commission. At launch TSB held around £25bn of loans, the majority of which were mortgages.
Mortgage Solutions revealed at the time that the bank was planning to launch an intermediary channel during 2014.
Since then the bank has made progress in the mortgage market using its 631-strong branch network. It announced last month it would pay Stamp Duty for customers purchasing a house valued between £125,001 and £250,000.
