Broker-industry veteran and former Chief Executive Officer of Fintelligence Chris Slater has resurfaced after a nearly year-long hiatus, and he is now set to join Aussie private equity firm Recludo Group.
Slater — who resigned from his post as chief executive officer of Fintelligence, the asset finance arm of Australian Finance Group (AFG) last May — will start his new role as Recludo's head of strategic growth in May.
"It's a privilege to get an opportunity to join Tim, Ash, Tom, Jon and the team at Recludo," Slater said. "I'm looking forward to jumping on board and continuing my passion of working with mortgage brokers, helping them grow their business and collaborating with like-minded people.
The team at Recludo includes the firm's Chief Executive Officer Tim Brown, General Manager of Broker Performance Ash Playsted, Chief Operating Officer Tom Roche, and Group Chief Financial Officer Jon Corney.
Australian private equity firm Recludo invests in Australian mortgage and finance brokerage businesses. Recludo works by connecting sole-trader-style brokerages with investment capital to help scale the businesses, and later prepare them for a resale.
Slater's arrival comes after the firm laid out plans this past December to supercharge approximately 50 brokerages in five years, beginning by taking a stake in three or four brokerages in 2025's first quarter.
The firm said Slater's expertise will help guide brokerage firms as they scale, make succession plans and eventual exit plans, during a time when the industry is increasingly reliant on brokers.
Mortgage brokers settled approximately 76% of all new residential home loans during the December 2024 quarter, according to the Mortgage & Finance Association of Australia (MFAA).
"When I started, that number was around 15%," Slater said. "The reality is the broker market has a huge footprint across the country, and there's plenty of opportunity for Recludo to make a real difference, which is what I'm excited about.
"There are so many brokers I've spoken to in the last 12 months who are thinking about how they can protect, grow and realize the value of their business, with a focus on succession and what an exit might look like," he continued. "At the same time, there’s a wave of young entrepreneurs entering the industry, bringing a fresh perspective to the opportunity. The Recludo methodology is a perfect fit for many of those business owners."
Slater resigned from his role in the top spot at Fintelligence after more than 16 years with the aggregator heavyweight. The Brisbane-based executive was made head of sales and distribution, as well as given the CEO seat at Fintelligence, in 2023. But his tenure at the aggregator also includes time as general manager, AFG white label distribution; general manager, head of sales and distribution, AFG home loans; and New South Wales and Australian Capital Territory state manager.
