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MyState targets commercial lending growth

TPT Wealth, the investment management arm of MyState Ltd, is planning a “major expansion” of its commercial lending business.

TPT announced yesterday that it has hired Bryce Harding, former manager of the Murdoch Clarke Mortgage Fund, to lead its commercial lending team.

Harding said TPT has set itself the goal of being the biggest commercial lender in Tasmania. It has upgraded its product range and hired new relationship managers.

He said that part of the company’s motivation for ramping up its commercial lending was that the big banks are withdrawing from Tasmania.

“Small to medium sized businesses are the backbone of the state’s economy and we see tremendous opportunities for growth.

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