In the newly created role, Smith will strengthen the “intermediary-focused sales support structure to better serve brokers and galvanising of relationships across the market”.
He will also manage sales teams dealing with intermediaries placing buy-to-let business with the firm and oversee the growth of this business segment.
Smith has worked in the mortgage and lending markets for over 25 years and joins SBI UK from BoI where he worked for around eight years.
He was most recently its head of intermediaries and before that was head of corporate accounts.
During his time at BoI, he helped the firm re-enter the intermediary market and built out its sales and distribution strategy, which included developed products and propositions.
Prior to that, he worked at CoreLogic Solutions as a business development director for just under a year, and before that worked at Yorkshire Building Society. He also helped to launch the Accord Mortgages brand.
He worked at the Accord subsidiary for around nine years in various senior roles including sales director and regional sales manager.
Abhishek Sahay, chief business officer at SBI UK, said: “We are very excited to have Iain join us as the head of intermediaries. Buy-to-let continues to be a very competitive space and we are keen to increase our impact in this market.
“To meet our growth ambitions for 2022 and beyond, it is important to have the strongest possible team to support our distribution partners. Iain has the experience and expertise to lead our presence in the intermediary space.”
Smith (pictured) added: “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 SBI UK, and I look forward in helping the wider team to accelerate the development and growth of the bank’s presence in the buy-to-let market across the UK.”
SBI UK celebrated its 100-year anniversary of operated in 2021. It has been expanding its mortgage offering, entering buy-to-let mortgages recently and launching a green mortgage range.
