Non-bank welcomes new executive members

by Rebecca Pike12 Feb 2019

A non-bank lender has announced three new executives are joining the team to support its growth.

La Trobe Financial partnered with Blackstone at the end of 2017 and has since grown to 320 staff and lending of $400m per month in loans to both residential and commercial borrowers.

It has now said it is focusing on new market opportunities following the retreat by the major banks from various lending areas.

Long serving 23-year distribution leader, Michelle Bannister, has been appointed executive general manager – head of distribution.

Bannister has held senior roles in both credit and sales during her career and will lead the 30-strong national BDM team of the group.

La Trobe Financial’s vice-president - head of major clients, Steve Lawrence said, “Michelle’s performance and track record of delivering for her clients and her colleagues is outstanding. Michelle is a great exponent of our company ethos of putting “others before self”. We look forward to Michelle leading our 30 BDM national distribution team as Executive GM with the 3,000 loan brokers we deal with across Australia.

“This appointment demonstrates our ongoing commitment to the third-party channel notwithstanding the potential impact of recommendations of the Hayne Royal Commission on broker remuneration.

“We are committed to continuing to assist quality brokers provide the best products for their customers, and we do not intend to make any pre-emptive changes to our broker remuneration model before Treasury and Government has had an opportunity to fully consider and reflect on the Royal Commission recommendations.

“We are listening to our loan customers who support the present model of lenders paying fees to brokers for the valuable services the brokers provide to their customers.”

La Trobe has also welcomed Ron Dunbar as executive general manager, head of commercial. Dunbar has more than 30 years’ experience in the banking and finance industry, including a 14-year career with Challenger.

Chief lending officer at La Trobe, Cory Bannister said, “We are delighted to have Ron join our team as an executive GM, his exceptional knowledge of commercial credit makes him a valuable addition to what is a strong performing asset class for us. We will continue to broaden our commercial product footprint in 2019 and Ron will play a major role in executing on that strategy in Australia largest team of experience commercial underwriters for any non-bank.”

The third appointment welcomes Luke Jones as executive general manager, head of residential operations. Jones has been at La Trobe Financial since 2010 and previously worked with Challenger and Westpac, before becoming a mortgage broker.

Bannister said, “Luke displays a passion for his broker and borrower clients leaving no stone unturned. Having walked in their shoes professionally for a number of years, Luke brings a highly valuable customers voice into our business. Luke will make a fantastic Executive GM for the residential underwriting team of 70 staff.”