He and Bluestone sales manager Ali Toumadj, who was previously with Sovereign, are buying the Money Workz mortgage broking business on Auckland’s North Shore which is where Bawden’s existing business is.
Money Workz current owner, Marion Herbert, is moving to the Bay of Plenty.
Bawden will rename his business Money Workz when the combined venture kicks off from September 1. "I’ve been looking at options for a long, long time," he says.
Both businesses were previously one-man-band type operations and neither was part of a wider aggregation group. Bawden says that won’t change. The two businesses combined "gives us quite a lot of volume.
The business will employ an operations manager and will probably have two part-time administrators as well. In addition, the pair have contracted Errol Timmins, formerly a senior underwriter with Sovereign, to provide clients with insurance services.
Bawden has been NZMBA chairman for two years and is offering his services for one further year in that role.
