YBR director quits to assume advisory role

by Manuelita Contreras19 Jan 2018
Industry veteran Frank Ganis has resigned as a Yellow Brick Road (YBR) non-executive director to take on an advisory role with the company, says an ASX announcement released yesterday (19 January).

YBR told Australian Broker that Ganis will help the company execute its strategies, besides advising its leadership.

The change is effective immediately. 

Ganis will not be part of a specific department at YBR but said he has identified areas where he can leverage his experience and knowledge and add value to YBR, “particularly in key areas of strategy, funding, product development, sales and distribution and of course operations”.

YBR Executive Chairman Mark Bouris called the move a “big win” for YBR and that the company is happy that Ganis has chosen to become more involved in the business.

“Since joining the board in 2017, Frank has come to know the business closely. He sees significant opportunities for growth, and would like to take a more hands-on role to drive outcomes and results,” said Bouris.

Ganis joined YBR following a 28-year career at Macquarie Group. He was responsible for the launch of the bank's mortgages and securitisation business in the early 1990s and established the PUMA Program as a leading Australian issuer of residential mortgage-backed securities.

Ganis said he looks forward to helping the YBR team drive profitable growth this year and beyond.

“I’m excited about the opportunities for YBR, and with the support of the Board, have decided to take on a leadership role in the organisation,” he said. 


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