As the market continuously changes, so too do the professions that make it. Despite the differences between internal (catchers) and external (hunters) BDMs, there is still no doubt about the necessity of strong collaboration between the two.

"In specialist lending, the role of the BDM has never been more critical — but it’s also evolving,” said Jonathan Samuels, CEO at Octane.

“External BDMs take our brand out into the market, building new relationships and uncovering opportunities. Internal BDMs are equally vital, converting those opportunities into completed loans by providing speed, clarity, and consistent service.

“One without the other simply doesn’t work — you need both to keep the pipeline flowing and improve conversion rates.”

Andrew Lazare, managing director at Mint Property Finance, also noted how essential both types of BDM are for the origination process: “Hunters bring in fresh opportunities; catchers make sure they convert. Without both working together, pipelines either dry up or bottleneck.”

However, Andrew remarked: “The market has more catchers than hunters because true hunters are rare. They need tenacity, market insight, and the ability to add value beyond introducing deals.

“We often find that the toughest hire is a hunter who’s also a team player. That combination of drive, knowledge, and collaboration is rare, but well worth the extra effort required in attracting and retaining these individuals.”

Building the skills to be a good BDM can take years, which means excellent BDMs are in short supply, according to Jonathan. He continued by saying that the role requires deep knowledge of the market, mixed with drive and resilience.

For Jonathan, the best in class are interdisciplinary players, crossing the boundaries that typically separate external and internal.

“The best modern BDMs can blend the skill sets — they can generate their own business while also managing and progressing a complex deal from enquiry to completion,” he explained.

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To utilise these abilities and enable the best originators, the progress needs to come from companies, too.

“As lenders, we need to invest in technology and training that enable our BDMs to work smarter because, in a competitive market, quality of origination is as important as volume.”

Michelle Walsh, intermediary sales director at Together, described a need for both kinds of BDMs, but explained a particular necessity for those that work within an office: “Office-based BDMs play a vital role in converting broker interest into submissions, using their deep product and policy knowledge to guide cases through to completion.

“The success of a lender depends on both hunters and catchers working collaboratively, as one cannot function effectively without the other.”

As the nature of the industry changes, so do the roles within it — and that includes the workings of the BDM, according to Michelle: “As technology continues to influence the market, the BDM role will evolve to include greater reliance on digital tools, data analysis, and automation.

“Customer expectations and the use of technology continue to evolve; therefore, BDMs will need to adapt to enhance their effectiveness in identifying opportunities, nurturing leads, and closing deals.”

Despite this, Michelle maintained the essentials of the BDM will stay the same: “The human element — the relationship-building, trust and personalised support — will remain central.”

Jonathan suggested that the BDM role was likely to continue evolving in the future:

“Looking ahead, I think the lines between hunter and catcher will blur even further.

“The winners will be the lenders who empower their BDMs with the right tools, market data, and autonomy to focus on outcomes, not just activity.”

He noted the necessity for BDMs to stick to essentials, even as the lines between internal and external roles shift.

 “In specialist lending, the human relationship will always be the foundation — tech can support it, but it can’t replace the trust that comes from years of experience."