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Major aggregator restructures executive team

by Annie Kane5 minute read

AFG has restructured its executive team and consolidated the executive accountability for all residential mortgage product sales as it grows its securities business and prepares for “heightened industry and regulatory engagement”.

Under the new structure, AFG’s general manager of residential and broker, Mark Hewitt, will take up the new position of general manager of industry and partnership development.

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He will maintain responsibility for the company’s residential mortgage lending relationships and will also now be responsible for lender relationships across AFG Home Loans, Commercial, AFG Business and Personal Loans business lines.

Meanwhile, AFG Home Loans general manager Chris Slater will assume the broader sales and distribution leadership role across both the residential broking and the AFG Home Loans businesses, becoming head of sales and distribution.

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The aggregator has said it will also appoint a general manager for the AFG securities business (AFGS), as the company broadens its earnings base and places an “increasing importance” on the business line.

The decision to reshape its executive team comes as the industry prepares for “heightened industry and regulatory engagement required in the post-royal commission environment”.

AFG CEO David Bailey elaborated: “The external forces impacting our business across the past 18 months have underlined why it is crucial to constantly engage with the broader industry and continue to position AFG as taking a leadership role in the market with both regulators and our lending partners.

“While we have done a tremendous job in reminding regulators, politicians and the broader community of the vital role our industry plays in delivering a competitive lending market, we must ensure that the broker proposition remains front and centre of the debate as the industry shapes its future over the next three years.”

Noting the changes to Mr Hewitt’s remit, Mr Bailey added: “During the recent challenges the mortgage broking sector has faced, Mark has played a significant role in ongoing advocacy of both AFG and the broader industry, stewarding much of the activity undertaken as our industry became a focus during the election campaign.

“With the three-year review period now underway, the need for AFG and the industry more widely to represent our brokers positively in the eyes of regulators and government is even more important. Mark will focus on our engagement with regulators and work to drive positive change across the industry.

“With Mark’s move into the new role, Chris will assume the position of head of sales and distribution for all residential products and continue his influence over AFG’s commercial white label Thinktank product.”

Speaking of Mr Slater’s new role, the CEO said that the new leadership role builds on his experience (having previously been national accounts manager in Queensland, NSW state manager and general manager for AFG Home Loans in Perth) adding: “The skill sets and passion Chris has demonstrated in those roles over the past 12 years will hold him in good stead as he takes up this new challenge. I congratulate both Mark and Chris on their appointments.

“The changes strengthen our leadership across the business and reflect the priorities of the business as we continue the diversification of our earnings base.”

[Related: Brokers buoyed by shift in mortgage landscape]

Major aggregator restructures executive team
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Annie Kane

Annie Kane

AUTHOR

Annie Kane is the editor of The Adviser and Mortgage Business.

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