Non-bank supports parent company rename

by Rebecca Pike27 Nov 2018

Shareholders have approved the renaming of a non-bank’s parent company, paving the way for two of its brands to be united.

A majority of Homeloans’ shareholders voted in support to rename the mortgage provider’s parent company as Resimac Group Limited.

The vote at the company’s Annual General Meeting in Sydney is the next step in unifying the Homeloans and RESIMAC Limited flagship brands under a new incarnation of the Resimac brand.

The new brand will take effect on 3 December, but there will be no impact on customer loans.

Homeloans joint chief executive officers, Mary Ploughman and Scott McWilliam announced the planned transition to a single powerful brand in October.

They described it as a natural evolution following the 2016 merger of the Homeloans and RESIMAC companies.

Speaking to Australian Broker at the time of the announcement, McWilliam said he was “excited”.

He explained that moving away from the name ‘Homeloans’ meant they could more clearly diversify their offering.

The Resimac Group will have a mortgage book of more than $12billion and more than 50,000 customers.