An aggregator has reshaped its executive team to both reflect its “increasingly diversified earnings base,” as well as to better carry out the industry and regulatory engagement necessary following the royal commission.
Australian Finance Group (AFG) has consolidated executive accountability for all residential mortgage product sales and created a new executive role, GM for the AFG Securities (AFGS) business.
AFGS recently passed the $2bn under management milestone, highlighting the growth of the business line.
Under the new structure, GM of residential and broker, Mark Hewitt, will shift to GM of industry and partnership development. Hewitt will oversee all lender relationships across the AFG home loan, commercial, business and personal loan lines.
“During the recent challenges the mortgage broking sector has faced, Mark has played a significant role in ongoing advocacy of both AFG and the broader industry, stewarding much of the activity undertaken as our industry became a focus during the election campaign,” said Bailey.
“With the three-year review period now underway, the need…to represent our brokers positively in the eyes of regulators and government is even more important. Mark will focus on our engagement with regulators and work to drive positive change across the industry,” he added.
Chris Slater, GM of home loans, will assume the broader sales and distribution leadership role across both the residential broking and the AFG Home Loans businesses.
Bailey said, “The skill sets and passion Chris has demonstrated in those roles over the past 12 years will hold him in good stead as he takes up this new challenge.”
“The changes strengthen our leadership across the business and reflect the priorities of the business as we continue the diversification of our earnings base,” he concluded.