3 minute read
down from CEO role
by Key Media
NEWS AGGREGATORS
MONEYQUEST REACHES 100 FRANCHISES
MONEYQUEST has announced its 100th franchise owner in Australia, capping a meteoric rise since launching as a mortgage broker franchise in 2016. The aggregator boasts one of the fastest-growing networks in Australia, with $400m in submissions per month. “We’re extremely proud,” said MoneyQuest managing director Michael Russell. He was also thrilled that MoneyQuest had been successful in recruiting financially astute former bankers and lenders and standalone mortgage brokers – they now make up 75% of current franchise owners.
AFG BREAKS ANOTHER LOAN LODGEMENT RECORD
AFG has announced another successful quarter for home loan applications, with lodgements breaking its previous record with a substantial annual gain of 34.32%. AFG brokers lodged $20.6bn in home loan applications over the third quarter of FY21. “Record-low interest rates, effective government stimulus packages and an improving consumer outlook have contributed to increased activity,” said CEO David Bailey. AFG brokers reported the highest gain in lodgements in NSW, where home loan applications grew by 40% annually.
James Symond CEO, Aussie Home Loans
James Symond, CEO, Aussie Home Loans
JAMES SYMOND TO LEAVE BEHIND AUSSIE CEO ROLE
After six years leading Aussie Home Loans, James Symond is to step down from his role as CEO of the national broker franchise network and aggregator
successfully built over three decades.” Highlights of Symond’s tenure include the acquisition of Wizard, and Aussie’s sale to Commonwealth Bank. Launched in 1992, Aussie was a pioneer in giving consumers an alternative to the major banks. Symond started his career at
ONE of the biggest names in Australian mortgage a record $3bn in loan lodgements last month. Aussie at the age of just 19 and held a number of leadership roles, broking, James Symond will “Aussie and the industry has been culminating in his appointment as quit his position at the end of my commercial life since I was 19, CEO in 2015. the year. and I’m incredibly proud of the legacy An energetic and dedicated leader,
Symond will leave after that John and I created,” said Symond. Symond steered Aussie through overseeing the upcoming merger “From humble beginnings Aussie has significant challenges, including the of Aussie and fintech lender come a long way, from revolutionising Hayne royal commission, bushfires Lendi. His departure will bring and bringing healthy competition to and COVID-19. He has also been a to an end 30 years of service the Australian home lending industry strong advocate for mortgage brokers. to the company, which was to where we are today with the largest “I’ve always been proud of the previously run by his uncle, retail footprint of any mortgage broker broking industry and Aussie’s role in founder John Symond, until he brand in Australia. advocating for customers. Now, with handed the reins to James. “Aussie now has a national over 60% of home loans in Australia
Aussie has grown massively, distribution network with over provided by brokers, the industry is including stores, brokers and 220 stores, over 1,000 brokers and at an exciting new stage of growth, loans, under James Symond’s 300 team members, who are part of and technology will play a major part leadership. The network wrote the family-style culture John and I in this,” he said.
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