Former Vow CEO and industry insider Jeff Zulman is on the cusp of being elected to the Wollahra Council in Sydney.
Although not formally announced, it is expected Zulman will win a seat he contested on Woollahra Council, representing the Bellevue Hill Ward, as a representative of the Residents First party.
Speaking with Australian Broker, Zulman said he expected that the result would soon be formally announced.
Zulman said that he decided to run for Wollahra Council after ASIC's Greg Medcraft 'twisted his arm'.
"Greg was a counsellor and former mayor in Woollahra and due to his ASIC position can no longer stand for re-election in any political office," Zulman explained.
"He was given my name and approached me as a local resident who has a strong interest in proper and responsible financial management. He is very persuasive and inspired me to run for office."
Zulman said that Residents First appealed because he believed local government shouldn't be the domain of large policitical parties.
"It is about the efficient provision of essential but non-glamorous services such as waste removal, sidewalks and use of rate payer monies to enhance the local area," he said.
"It should not be used as a training ground for political aspirants, or for pushing party political messages and policies," Zulman said.
Zulman backed this view by saying he was not considering a career in politics at this stage.
"I just want to give something back to my local community during the next 4 years of office and have no further political ambitions at this time," he said.
Zulman is still running the Book Buyers Brokerage, which he says is filling a niche in the mortgage industry, particularly when it comes to funding motgage brokers and managers looking to expand. He is soon moving to a new office - in the electorate he will represent - and hiring new staff.