Loan Market Group has moved to sharpen its business lending strategy with a senior leadership hire drawn from one of the major banks.
LMG has appointed long‑time Westpac executive Shane Howell as its new group executive – business lending, underscoring the aggregator’s ambition to scale its small and medium-sized enterprise (SME) and business finance capabilities.
Howell will join LMG on Monday (4 May) after a 20‑year career with Westpac Group, where he most recently served as general manager of commercial banking and managing director of business lending.
In that role, he oversaw a wide range of business finance activities, which LMG said provided him with first‑hand experience of how institutional lenders assessed risk and structured transactions.
LMG said the appointment formed part of its continued investment in SME and business lending.
Across the market, non‑bank providers and specialist lenders have been stepping into that gap, with aggregators broadening their panels to include more short‑term, working capital and alternative funding options.
Explaining why LMG had elevated the business lending portfolio at a group executive level, CEO and executive director Ewen Stafford said the decision reflected the structural challenges firms faced in securing finance.
“Howell’s appointment reflected both the size of the opportunity and a clear gap in how Australian businesses access funding,” Stafford said.
“We’re deepening our investment in the SME and business lending space because we know the broker channel can do for business lending what it has done for home lending – giving Australians more options, better outcomes, and a real alternative to the traditional path.”
Tech, data, and lender relationships in focus
In his new role, Howell will be responsible for expanding LMG’s SME and business lending proposition, with a particular focus on technology, integrations, and data.
LMG said Howell would look to deepen relationships with both bank and non‑bank lenders and that he would work closely with group executive – commercial, Stephen Scahill.
Stafford said Howell’s background equipped him to bridge expectations on both sides of a transaction – from credit decision‑makers through to front‑line advisers.
“Shane understands business lending from both sides – what lenders are weighing up, and what brokers need from a partner. That combination is rare, and it’s why we’re so pleased he is joining LMG,” Stafford said.
‘Real opportunity’ in business finance says Howell
Howell said he was joining LMG at a time when the size of its network and the speed of its investment in commercial capability made the role particularly attractive.
“LMG is operating at a scale and pace that genuinely excites me. The broker channel has reshaped Australian home lending, and there’s a real opportunity to do the same in business finance – but it takes serious commitment, the right partners, and a willingness to build. That’s what I see at LMG, and it’s why I’m excited to be joining,” he said.
He also pointed to the number of SMEs that still fell short in their search for appropriate funding, despite rising use of non‑bank and specialist options.
“Too many Australian businesses don’t get access to the capital they need, and we want to change that. Our ambition is to connect brokers, lenders and capital so more businesses can access funding on the right terms,” he said.
“At a time of ongoing economic pressure, access to the right capital structured appropriately and delivered quickly is critical. The work ahead is making sure more Australian businesses, not just some, can access the funding they need to grow.”
[Related: LMG confirms 2 matters under investigation in fraud probe]
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