Mortgage brokers wrote 71.7 per cent of all new residential mortgages during the September quarter – the first time broker share has reached above 70 per cent. Data prepared for the Mortgage and Finance Association of Australia by research group Comparator shows that broker share increased from 68 per cent in the June quarter and 66.9 per cent in the September quarter last year. Bruce Murphy is the new chair of Defence Bank, replacing Fran Raymond. Murphy, a banker and former Navy officer, was managing director of BNY Mellon Investment Management from 2009 to 2015, responsible for the Australian Investment Management Business. He now leads Insight Investment’s business for Australia and New Zealand.