The Teams window flickers into life and then Roland McCormack appears in the bottom left-hand corner of my screen, squinting slightly as he tells me he’s still getting use to his new laptop.
In the top right is the ever-present yet anonymous Barclays PR representative, scribbling notes with quiet diligence.
The digital stage is set and now it’s down to McCormack to get on with one of his first official media interviews since joining Barclays.
“It’s great to see you again,” he enthuses. “I think the last time we physically sat down must have been 2016 or 2018.”
Now, more than 30 years into a career spanning some of the UK mortgage sector’s most prominent names, McCormack has taken on a newly created role: managing director of intermediary mortgages at Barclays.
It is a position that places him at the helm of the bank’s efforts to strengthen its broker relationships and accelerate its presence in a market that, by his own reckoning, is undergoing a profound transformation.
“What attracted me to the job?” he asks rhetorically, before answering with characteristic candour.
“It’s ambition. The ambition to be number one for brokers in the UK market. Barclays has invested heavily in new systems and the response from brokers has been brilliant. When I met the senior leaders, there was a clear commitment to do whatever it takes to be number one. That’s a promise that starts at the top and filters through every part of the organisation.”
MORTGAGE STRATEGY
McCormack’s arrival at Barclays was not entirely expected. “It did surprise me when I popped up at Barclays,” he admits. “But I knew that the scale here was different. Previously, I worked at smaller lenders, with 2-3% market share. Barclays? We’re looking at 9.5% [mortgages].
“There’s more investment, more people, more capital. And the talent around me – the people leading technology, operations, underwriting – they’re some of the smartest I’ve ever worked with. They get brokers, they get the market and they’re committed.”
“There’s no going back to a direct-only model.”
The broker market remains central to his vision. “Brokers are still at the heart of mortgage lending in the UK,” he says. “There’s no going back to a direct-only model. They’ve demonstrated value for customers, and our role is to support them, to make their lives easier, to make the processes quicker and smarter.”
Part of that support is technological. McCormack has already emphasised the importance of streamlining operations and leveraging data.
“We have enough data in the UK now to look at mortgage offers differently,” he says. “Instead of taking 10–12 days, why not 3–5? Why not increase instantaneous offers? That’s where our next investment is going. AI will help, yes, but the real game changer is using data intelligently.”
HOMEBUYING SUPERHIGHWAY
This focus on speed and efficiency ties directly into wider reforms in the housing market, particularly in conveyancing.
“Think about it,” he says. “We have a superhighway in mortgage lending, and then it hits this narrow country lane called conveyancing. By bringing conveyancing into the start of the process, we can shave four to six weeks off completion times. That benefits brokers and customers alike.”
The newly created role at Barclays is more than just a title though.
“This is the first time Barclays has had a managing director-level role running the intermediary business,” he says.
“It reflects a serious commitment to brokers. Clearly, my experience – 30 years in the sector – counted for something, but it’s also about the people around me, the technology, the service and the products. That’s how you build a successful proposition.”
BUILDING GROWTH
McCormack’s career is a study in building from scratch. He recalls TSB, where he helped create a new intermediary proposition in the aftermath of the financial crisis.
“Back in 2014, the market was very different. Brokers weren’t treated properly. What we did at TSB was raise the bar on service, not just for ourselves but for other lenders. It wasn’t just about having products; it was about how you support brokers in delivering great outcomes for their customers.”
Now, at Barclays, he is looking to replicate and expand that philosophy.
“Our priorities in the first 12 months are clear,” he says. “Keep the momentum going in technology, service and product.
“Become number one in new build, high-value loans and also in Scotland. Innovate products that help people get onto the housing ladder – like first-time buyers – and ensure our teams are delivering consistently brilliant service every day.”
BROKER BOOST
Scotland, in particular, has been a focus. “We’ve introduced a dedicated Scottish team,” he explains. “Many brokers in England also do lending in Scotland, and they need that support. It’s about being responsive and consistent, wherever our customers are.”
He is acutely aware of the market dynamics that underpin his strategy. “Look at the UK lender landscape. On one hand, you have the big six, writing 74–75% of the market. Then there are 120 other lenders, including regional building societies and specialist lenders. They’re agile, innovative, but they don’t have the scale. Our challenge is to offer the best of both worlds – scale, capital, liquidity – with a service proposition that makes brokers’ lives easier.”
Technology remains central to that proposition but McCormack tempers enthusiasm with pragmatism.
“Artificial intelligence will help us be more productive, taking away basic tasks from underwriters and processors,” he says. “It’s about speed and efficiency. But AI isn’t going to replace brokers. The process is stressful – dealing with solicitors, finances and the home buying journey itself.
“That’s where brokers add value. I don’t see AI mortgage brokers any time soon; the human element is essential.”
LEADERSHIP CHALLENGE
He speaks at length about leadership and the culture he wants to cultivate.
“I give people a clear direction: the purpose, the ‘why.’ Then I trust them to deliver, supporting them where needed. I’d like people to describe me as authentic, low-ego, and curious. That’s the culture I want to see in our team – listening to brokers and customers, constantly asking ‘what’s next?’”
Asked about his most defining career moments, McCormack doesn’t hesitate.
“January 1994, when I started at Bank of Ireland as a trainee BDM. That business had 240 people focused on one product, distributed through brokers. I learned more in that role than anywhere else and I still use those lessons today.
“The financial crisis of 2007–2008 was also pivotal, difficult at the time, but it strengthened the industry and taught resilience.”
He is equally candid about switching off. “I have two women in my life,” he says with a smile. “Ruth, my wife, and Edith, our year-and-a-half-old black Labrador.
“My favourite time is what we call sofa time – no phones, no TV, just talking about our day and life in general. And I cycle, I walk, I love good food and wine and I enjoy hanging out with friends. Life outside work is simple but important.”
Home, too, reflects that simplicity. “I live in a village called Uley, at the bottom of the Cotswolds,” he says. “I’ve always been a city and town person, so it’s a bit of a change. The pace is slower, the community is friendly, and it gives me perspective. It’s good to step back and remember what really matters.”
HANDS-ON APPROACH
Even with such a demanding role, McCormack maintains a hands-on approach. His first 12 weeks have been spent travelling across the UK – Scotland, Liverpool, Manchester, London – meeting brokers, national accounts, managers and BDMs.
“I’ve been listening more than talking,” he says. “You see too often people come in with preset ideas. For the first eight or nine weeks, I just wanted to understand the business, the market, the brokers and the customers. That informs everything else.”
He is unapologetically broker-focused. “Our mantra is flexibility. Some brokers want face-to-face, some prefer Teams, some use live chat. Our job is to meet them where they are. BDMs who are on the ground, visible, responsive – they’ll win.”
MARKET BENCHMARK
And his long-term vision is clear: Barclays as a benchmark for the market, a lender that combines scale, technology and human service.
“It’s about taking the good we already have and making it great,” he says. “Invest in people, invest in technology, and always focus on delivering value to brokers and customers. That’s how we grow, that’s how we lead.”
For McCormack, the personal and the professional are intertwined. He draws from a career built on patience, observation and innovation, yet never loses sight of the people who make the market work.
“At the end of the day, it’s about making things better for brokers and their customers. Everything else follows.”
As the Teams call winds down it’s more than apparent that while McCormack may have stepped into a new role his focus remains unmistakable: listen, learn, deliver and innovate. And that’s a message for brokers, for customers and for the market at large.
“It’s an exciting time, he says. “The market is evolving fast, and we’re right at the heart of it.”
