Aussie Home Loans will maintain its independence if CBA deal goes ahead

Aussie Home Loans will spend the next few weeks examining the proposal by the Commonwealth Bank to buy 30% of its business.

Aussie Home Loans will spend the next few weeks examining the proposal by the Commonwealth Bank to buy 30% of its business.

Sources close to the deal say that negotiations are in full swing and the CBA would not swallow up the mortgage broker but would let it operate as a single entity and maintain its independence.

Last week Symond, 60, told SmartCompany he would step back from day-to-day operations and move into an executive chairman’s role.

“For 17 years I have had a very hands-on role,” he said. “But I believe if we are to take advantage of this marketplace I need to utilise my skills where I can get the most bang for buck. We have a professional CEO to take the burden on the operational side and I can work with the management team to work out how to work out the best way to take advantage of the opportunities out there.”

A spokesman for Aussie says Symond will make an announcement in a few weeks after a decision has been made.

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