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The major brokerage has grown its technology team by recruiting the Australian division of a global IT company ahead of the implementation of the BID legislation.
Loan Market has announced that it has absorbed a nine-person Australian-based software and digital architecture team of Denmark-based firm KMD into its technology division.
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The team has brought with it experience in delivering IT solutions for banking and finance, energy and government clients around the world.
Speaking of the recruitment of the technology team, Loan Market executive chairman Sam White said: “We wouldn’t have brought in an entire team unless we were confident there would be a cultural alignment between Jakob’s team and our existing technology division.”
“Through our discussions, it’s clear we all share the same value of delivering digital solutions that meet the challenges of our brokers and their customers.”
As part of the expansion, Mr White also announced that Jakob Højgaard, former managing director of KMD’s Australia business, will assume the new position of chief technology officer of MyCRM, Loan Market’s technology solution in response to the impending best interests duty (BID) legislation.
“Bringing in Jakob and his team will address current and future challenges for the industry,” Mr White said.
“Jakob is influential among the global IT community, and his team has been pivotal in supporting the digital engagement and growth strategies of public and private companies.”
As well as overseeing KMD’s Australian business in his previous role, Mr Højgaard oversaw a global division of 40 staff in locations including India, Poland and Denmark.
Commenting on his new role within Loan Market, he said: “The nucleus of our team has been together for almost three years now, and we have a strong understanding of each other’s capabilities.”
“We’re currently integrating with the existing MyCRM team, building up resources across every component of the platform.”
Loan Market recently made two appointments to its compliance division in preparation for the implementation of BID.
Kali Jurkschat was appointed as senior manager of risk transformation, while William Jewitt was brought on as head of compliance and operations.
