Pepper appoints new Head of Mortgage

by Mike Wood13 Jul 2021

Barry Saoud is to become the new mortgage lead at Pepper Money. Saoud will join the non bank after more than a decade at Aussie Home Loans, where he was General Counsel and Head of Product.

His new title will be General Manager Mortgages and Commercial Lending, taking on responsibility for the home loan division of the non bank. Saoud officially takes over next Tuesday, 20 July.

Barry Saoud joins at a crucial moment for Pepper, who launched on the ASX back in May with a valuation of over $1 billion and who have recently priced a huge RMBS deal on the back of huge growth in the home loan sector, sparked by the ongoing Australian property boom.

“Barry is the right person to lead our mortgages and lending division and has extensive executive and senior management experience within the financial services industry,” said Mario Rehayem, CEO of Pepper Money.

“He has a stellar reputation in the industry – and is well known to many within Pepper Money as a key partner in the establishment of the Pepper / Aussie white label program.”

“Barry brings a wealth of experience across a number of key areas that will assist with our growth aspirations, particularly in the areas of product innovation strategy and distribution. I very much look forward to working alongside him.”

He will replace Aaron Milburn, who is leaving the banking sector to take a career break to spend time with his young family.

“As we welcome Barry, we would also like to acknowledge Aaron Milburn’s significant contribution in leading the Mortgage and Commercial Lending business over the past four and half years, and we wish him well as he enjoys this next chapter with his family,” said Rehayem.

Saoud himself said: “Pepper Money is a fantastic business with a rich history of helping underserved customers. I look forward to working alongside Mario and the whole Pepper team to further grow Pepper and leverage its unique customer offerings.”