In December last year, Billy Moskovich (pictured above) was appointed executive director of Stamford Capital – one of Australia’s largest commercial finance brokerages.
Elated, his ambitions were high.
“Last calendar year alone, Stamford has successfully facilitated over $2.5 billion in settlements,” Moskovich said.
“Now, I'm actively driving towards my next milestone: to become the first commercial broker in Australia to write over $1 billion in settlements within a financial year.”
However, that wasn’t always the case for Moskovich.
Talking to Australian Broker, Moskovich shared his journey from Uber driver to executive director, the skills and mindset needed to succeed in commercial finance, and how one moment changed the course of his life.
That one fateful Uber ride
Seven and a half years ago, Moskovich didn’t have any ambition in life.
After finishing a university degree, he took a five-month gap year through Central America.
“Coming back, I was a bit lost and lacking motivation,” Moskovich said. “I didn’t have any plans or ambitions and I didn’t know what was next.”
Returning from the trip, Moskovich needed some money, so he took up Uber driving.
“After only a few days back on home soil, I started Uber driving and I happened to pick up a man in an Uber… honestly, that one Uber trip changed the velocity of my life forever.”
The man was travelling from Paddington to Bondi – near where Moskovich lives.
“I thought, ‘Awesome, I can drop him off and go home to relax’.”
The pair got chatting and Moskovich shared that he had recently completed his degree in finance and economics. The man asked, ‘What are your plans?’
“Summer is fast approaching, and I want to make the most of my last summer at the beach prior to moving into full time work,” he had said.
“What do you do?” Moskovich asked.
The man replied, “I own my own finance company in the city,” handing him a business card.
Michael Hynes, Executive Director of Stamford Capital.
“If you ever want to go for a coffee, let me know. But it’ll have to be in a few weeks because I’m flying early to Melbourne tomorrow.”
It was at that point Moskovich sensed an opportunity.
“What time do you need me to pick you up? I’ll be here waiting.”
From Uber to intern: a summer to remember
After driving Hynes to the airport, Moskovich went for that coffee a few weeks later.
“We talked about life, relationships, and all that. He then invited me to come and spend a few days in the office with him.”
A few weeks in with Christmas fast approaching, Moskovich was tasked with handing out Stamford Capital beach umbrellas to clients.
“How good’s this?” Moskovich thought. “I’ve got an internship at Stamford Capital. That’ll look good on my resume.”
“Never in a million years did I think that Stamford would employ me in a full-time capacity,” he said.
Where would you be if …?
Prior to the Christmas break, Moskovich asked Hynes what Stamford had planned for him.
“The team liked my attitude, so they decided to keep me on in an administrative role,” Moskovich said.
Over the years, one thing led to another, and Moskovich moved from his admin role to a junior analyst position to then working directly on deals and building up the skills that would take him to where he is now.
“A lot of people ask me where do you think you would be if it wasn't for Michael Hynes and that Uber ride?” Moskovich said. “Honestly, I can’t even comprehend it. It goes to show, anything in life is possible.
“Even two years ago, did I think I would be executive director at the number-one commercial mortgage broking firm? Did I think I could be pushing $1 billion in deals within a financial year? Absolutely not.
“My biggest advice is to dream big and that anything in life is possible.”
Reputation: years to build, seconds to crumble
While Moskovich’s story may be inspiring, he is aware that it took a set of skills needed to get him there.
First and foremost, said Moskovich, was managing reputation.
“Reputation is everything in market,” he said. “It takes many years to build your reputation, and it takes one act and one instance for that to crumble. Without your reputation, you don’t have much.”
To build your reputation, Moskovich said you need to keep one thing in mind: “Do the right thing by your clients.”
“Always have their best interests at heart. We act on behalf of our clients, and our job is to go out to the market and get the best rates and terms possible.
“We are saving people money on their interest costs and if we do our job properly, all of our fees included should be cheaper than the other option they currently have on the table,” he said.
“If you are trusted as an adviser and have a good reputation, word spreads and deals will start to flow through.”
Commercial finance: Technical vs. personal skills
This isn’t to say that you don’t need the technical skills and industry know-how to succeed in the world of commercial finance.
With deals on the table worth tens of millions of dollars, Moskovich said it’s essential to go in with sound technical knowledge when working with that calibre of clients.
“However, you don’t necessarily need a university degree to grow it. It can be taught to people with the right attitude.”
While a commercial broker’s technical ability is clearly important, Moskovich attributes his growth to his people skills while delivering market-leading results; “the two go hand in hand”.
“Being personable and able to sit down with a client and understand what their pain points are is crucial,” he said.
“Work backwards from the problem to find the best solution in market by structuring the deal in the best way possible. It’s important to ensure the client and the lender are both happy and on the same page.”
The path forward
Reflecting on the time Hynes gave him the nod to become executive director, Moskovich said he couldn’t have been happier.
“It was honestly one of the proudest moments in my life and easily my biggest career achievement to date,” Moskovich said.
“It was quite surreal looking at my business card: Billy Moskovich, Executive Director… The same title that Michael had on his card all those years ago.”
“He will always be my boss though.”
As for the future, Moskovich hopes to build Stamford Capital’s NSW business while also supporting and expanding sales nationally.
“My expertise is on the sales front, during the initial stage of meeting the clients and building that connection and understanding… that’s where I add value.”
He also wants to train and inspire the next generation of commercial brokers coming through Stamford’s door.
“Hynesy and Stamford changed my life,” Moskovich said. “I hope to return the favour and give someone an opportunity so they too can change their path forward.”
