Lender makes moves to accommodate growth

Expansion a “physical signpost” of dramatic growth over past 12 months

Lender makes moves to accommodate growth


By Madison Utley

Following a year of significant growth, a non-bank lender has moved offices in each of its three locations in order to accommodate its expanding staff and need for additional resources.

Bluestone was acquired by an affiliate of Cerberus Capital Management L.P. and subsequently moved into the near prime lending space in April 2018.

The transition brought over 80 new staff members onboard among the Sydney, Auckland and Manila offices, resulting in a team numbering over 250.

Simultaneously, Bluestone’s originations increased by 75% compared to the previous year.

As a result, Bluestone’s Sydney headquarters have been expanded into the second level of its CBD building, adding 700 square meters.

The Auckland team moved into a new space suited “to support the significant growth in volumes anticipated in the coming months.” The Manila branch also relocated into larger offices, bringing the total leased office space across the APAC region to over 3000sqm.

Bluestone CEO Campbell Smyth said, “The office relocations and expansions we recently completed serve as a physical signpost of the growth our business has experienced for the past 12 months.

“As we continue on this path, we want to ensure our staff continue to have the resources they need to serve our borrowers and broker network with the efficiency Bluestone is known for in the market,” he concluded.

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