A mortgage brokerage has welcomed a former banking executive as its new CEO.
Frank Garis was an executive director at Macquarie Group, where he co-founded Macquarie's mortgages and securitisation business in the early 1990s.
He has now joined Yellow Brick Road where he will play a key role in the finalisation and roll out of YBR’s own self-funding securitisation programme, which has been announced as a key strategic objective by executive chairman Mark Bouris.
During his tenure at Macquarie, Ganis had oversight of Macquarie’s key strategic retail banking alliances and relationships, and was responsible for the development, delivery and funding of financial products and services, designed to be used and distributed directly and by external financial intermediaries.
Commenting on the appointment of Ganis, Bouris said, “I am very excited to have Frank Ganis join us as CEO. We are both great believers in the unrivalled quality of our distribution network, great believers in building lower cost and more efficient structures, and of course we both share the same vision around launching our own securitised product.
“Frank identifies with the needs and requirements of the distribution network and this is something that will prove to be a real asset to us.
“He understands very well what the network wants, and he will be rolling up his sleeves to work with the franchisees and broker partners to give them what they need to be successful.
“This is a key appointment for the YBR Group as Frank brings with him over 35 years of major bank discipline of maximising revenue, reducing costs, and increasing profits.
“With my focus being on growth and productivity and Frank focusing on securitisation and profit, YBR is geared to secure greater market share in the years ahead.”
The group has made other key adjustments to the business, including a reduced executive team.
Ganis will also be providing an over-arching discipline, coaching and mentorship to the YBR Group leadership team to bring about the key enhancements to the network infrastructure the group has planned for.
Ganis said he was delighted to accept the post of CEO and that he looked forward to driving the 2019 strategic agenda forward.
He added, “I am absolutely delighted to accept the position of CEO at YBR Group. I have been working with YBR over many years and am excited by the opportunities that are clearly available to the group.
“I am eager to hit the ground running in rolling out the group’s vision, particularly in expanding our product offering, creating new revenue streams and achieving cost efficiencies as part of our strategic direction.
“On top of that, I am absolutely determined in making sure we give our network what they want to succeed. I understand what the network needs and I’m going to make sure they have what they need to support them to serve their clients.”