Loan Market Group reorganizes the leadership of Choice, FAST, PLAN
PLAN Australia, Choice Aggregation and FAST will now operate under a single management structure, with parent company Loan Market Group declaring a series of changes.
Loan Market Group has simplified its company structure into two components, a wholesale division, encompassing the aggregators PLAN, Choice and Fast; and a retail segment, which includes the loan and franchise market of brokers operating under the Bring Your Own Brand model.
Choice Aggregation Managing Director Stephen Moore will lead the three aggregation companies previously owned by NAB from today, after being appointed Managing Director; PLAN, Choice and QUICKLY.
The new management structure of the three companies will also include the addition of localized teams, led by state directors, who will be responsible for supporting brokers, events and content.
Loan Market Group’s retail division will be headed by recently promoted Managing Director Andrea McNaughton.
Loan Market Group executive chairman Sam White said The COVID-19 Adviser has shown how important local leadership is, with varying conditions in each state.
However, the establishment of state leaders has led to the need for a single management structure to ignore all brands, for the sake of simplicity.
“We wanted to have a state structure. Right now we have regional directors who deal with multiple states on the wholesale side, ”White explained.
“So we wanted to have a leader in Queensland, a leader in Victoria, a leader in [Western] Australia and South Australia, a leader in New South Wales – and to do that, we knew we needed to have the capacity for these leaders to manage multiple brands. “
The change in leadership should also make it easier for brokers to switch between brands and business models, if they so choose.
The group is also diversifying to form a business brokerage and asset finance branch, with a team of specialists and partnership managers, as well as domain-specific technological solutions and increased lender support to be made available. of all of its brokers.
Brendan Wright, CEO of FAST, will oversee the creation of the division in the weeks leading up to Christmas, with Loan Market Group stating that he will build on FAST’s profile in the trading and asset market.
Mr. Wright will be leaving the group early next year after establishing the business unit and assets, with plans to seek new opportunities after nine years at the helm of FAST.
Meanwhile, Anja Panneck, former CEO of PLAN Australia, will take on a newly created role within the company: Group Director, Lending Solutions and Strategy.
Loan Market Group has announced its intention to work with digital lenders, as Ms. Pannek’s experience in product development should prove useful.
“We want to make sure mortgage brokers are a part of the digital mortgage revolution and we know we need to work with these lenders to make sure the broker is part of that landscape,” White said at The Adviser.
The changes came seven months after Loan Market finalized the acquisition of Choice, PLAN and FAST.
[Related: YBR Home Loans flags digital pivot, broker expansion]
Sarah Simpkins is the managing editor of Mortgage Business and The Adviser.
Previously, she reported on banking, financial services and wealth management for InvestorDaily and ifa.