The Mortgage and Finance Association of Australia (MFAA) announced today it had appointed a new chief executive officer, following a comprehensive search process.
has agreed to join the MFAA in the role, following a series of operational and executive roles in asset finance and banking over almost thirty years.
The MFAA sought a candidate with experience across the financial services spectrum, to ensure the MFAA could continue to respond to the inevitable and increasing changes facing the finance and mortgage broking industry.
MFAA chairman Cynthia Grisbrook said they couldn’t be happier to have secured Mike for the role, he has worked in financial markets, treasury, asset finance and program management, as well as in executive roles. Each of these elements of his career has equipped him with skills and knowledge that will benefit the MFAA.
The Board also saw the value in appointing a CEO with a depth and breadth of perspective, but whose experience lies outside of the broking industry.
Felton, a 29-year veteran of banking and financial services, both here in Australia and overseas, said he saw the role as the perfect fit for his experience set.
"I am honoured and grateful to the Board for the opportunity to lead the MFAA team and excited about the challenge this role presents,” Felton said.
“There is change on the horizon with a mature trend in interest rates, proposed regulatory changes, ongoing adjustments to lending criteria and predicted volatility in housing markets, all of which will need to be navigated. Most of my career has been in high-change environments and I look forward to working with the team to drive outcomes for the MFAA and its members in the coming months and years.
“My first priority, however, will be to listen and learn. I’m looking forward to spending time with the Board, the MFAA team, members and other stakeholders to understand and take stock of our current position,” Felton said.
"I’d like to thank the Board, interim CEO Chris McRostie and the entire MFAA team for continuing to drive our agenda of advocacy, education and support for the industry as we conducted this search," said Grisbrook.
Mike will commence work with the MFAA on Monday 5th December 2016.