Former Macquarie Group executive Frank Ganis has been appointed as the new chief executive of Yellow Brick Road.
Mr Ganis co-founded Macquarie's mortgages and securitisation business in the early 1990s and was instrumental in building the mortgage securitisation sector in Australia, YBR said in a statement.
Mr Ganis will play a key role in the finalisation and roll out of YBR’s own self-funding securitisation program, flagged as a key strategic objective by executive chairman Mark Bouris.
He 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.
Further, YBR said Mr Ganis will serve to enhance the overall efficiency, quality and skill set of the leadership team, which will result in cost reduction, improve revenue and boost profitability.
Mr Bouris said he's very excited to have Mr Ganis join YBR 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," he said.
“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.”
MLC Life Insurance has appointed Sean McCormack as the chief of its newly create...
Westpac will pay the biggest fine in corporate history for its more than 23 mill...
The corporate regulator has extended the temporary relief for financial advice a...