Lender announces CEO restructure

by Rebecca Pike20 Jan 2019

A lender has announced its joint CEO will leave the company, creating a structure with just a single CEO.

Resimac, formed from both RESIMAC and Homeloans in December, made the announcement on Friday.

Mary Ploughman, who has been at the company for 16 years, was thanked for her service.

The other joint CEO Scott McWilliam will now take on the role of solo CEO, effective Friday (18 January).

McWilliam joined the Resimac group in 2016 at the time of the RESIMAC and Homeloans merger.

Having previously led the ASX-listed Homeloans Limited as CEO for five years, the ASX announcement about the restructure said McWilliam had “wide-ranging and strong relationships across the Australian mortgage and debt markets”.

The single CEO structure comes less than two months after the two brands became one.

In an interview with Australian Broker at the time of the merger announcement, McWilliam said it was a natural evolution.

He added that the merger and renaming to Resimac meant the group could diversify, whereas the Homeloans name had made it sound like they only did one thing.

The new Resimac group was expected to have a mortgage book of more than $12 billion and more than 50,000 customers.