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National Australia Bank has selected Melbourne as the head office location for HomeSide's Australian mortgage banking operations. HomeSide's Australian operations are expected to create 430 new jobs in Victoria by 2003. Victorian Premier, Mr Steve Bracks and the National's CEO and Managing Director, Mr Frank Cicutto, made the announcement today. Victoria was selected as HomeSide's preferred head office location, following an extensive national and international search for an appropriate base. HomeSide's Melbourne head office will house its centralised mortgage servicing centre, its Victorian wholesale and funding operations and its back office support functions. HomeSide moved into its new head office at 120 Spencer Street earlier this month and is currently engaged in hiring and training employees. Mr Cicutto said that HomeSide's specialised customer service capabilities would be supported by technology that was developed in the United States. "This is another example of the National utilising its global business lines to derive benefits for its Australian and international customers and investors. "The opening of HomeSide's new centre here in Melbourne not only provides new jobs…it will also provide a totally new approach to the provision of one of the most important products for all Australians…a home mortgage," Mr Cicutto said. HomeSide Lending Inc., is one of the largest mortgage banking businesses in the United States and was acquired by the National in 1998. HomeSide's specialist mortgage banking capabilities will be rolled out globally with Australia launching operations in the coming months. This will be closely followed by operations in Europe.
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