AFG’s co-founder will retire following the company’s annual general meeting, bringing to a close a three-decade tenure.
Australian Finance Group (AFG) co-founder and former managing director Brett McKeon will retire as a non-executive director following the company’s annual general meeting on 16 October, bringing to a close more than 32 years with the Perth-founded aggregator and lender.
McKeon established AFG in 1994 with Kevin Matthews, Malcolm Watkins, and the late Brad McGougan and has remained closely involved as the business expanded from a Western Australian start-up into a national, ASX-listed financial services group.
McKeon led the company as managing director before moving into a non-executive directorship in 2019.
AFG chairman Greg Medcraft said McKeon’s influence had extended across the company’s expansion, capital-markets development, and evolution beyond its original aggregation model.
“Brett has been fundamental to the success of AFG from day one. His vision, commercial acumen and long-term commitment to the broker channel helped guide the company through national expansion, its ASX listing and its evolution into a diversified financial services business,” Medcraft said.
From Perth start-up to listed group
Medcraft said McKeon’s leadership as managing director was particularly influential during AFG’s national growth phase and its listing on the Australian Securities Exchange in 2015.
“As MD, Brett led AFG through significant expansion including the company’s national growth and successful listing on the ASX in 2015. His leadership helped build a business with the scale, capability and resilience to play a central role in strengthening the mortgage broking sector in the Australian lending market,” he said.
The chairman said McKeon’s contribution was not limited to AFG’s commercial development, pointing to the company’s industry advocacy and the growth of mortgage broking as a source of lending-market competition.
“Through AFG’s growth and advocacy, Brett helped support thousands of mortgage broking businesses and contributed to an industry that has enabled millions of customers to access lending options that better suited their needs,” he said.
“On behalf of the board I thank Brett for his extraordinary contribution to AFG and to the industry – the leadership, judgement and dedication he has brought to AFG and for the important contribution he has made to the development of the mortgage broking industry throughout his career. We wish him every success in his well-earned retirement.”
A legacy of choice and competition
Reflecting on AFG’s origins, McKeon said the founding group had identified an opportunity to create a business that strengthened the broker channel while broadening consumers’ access to lending options.
“When we started AFG in Perth in 1994, we saw an opportunity to build a business that would support brokers, give customers greater choice and bring more competition to the lending market,” McKeon said.
He said AFG’s growth since then had been a source of pride, alongside the continued role mortgage brokers play in connecting Australians with lending options suited to their needs.
“I am immensely proud of what AFG has achieved, growing from a Perth start-up into one of Australia’s leading financial services companies. I am equally proud of the role brokers continue to play in helping Australians access lending options that meet their needs, and of the role AFG’s own lending business plays in supporting competition in the market,” he said.
“AFG has always been a leader in the mortgage broking sector and its scale, strong balance sheet and clear strategic priorities position the company well for continued growth.
“I leave with great confidence in the business, its people and the important role it will continue to play in advocating for the industry and helping shape the lending market for the benefit of all Australians.”
At the 16 October AGM, shareholders will also consider the election of David Flynn as a director, the financial and statutory reports for the year ending 30 June, and AFG’s 2026 Remuneration Report.
McKeon’s exit comes after the retirement of his fellow AFG co-founder Watkins in February as non-executive director, bringing to a close nearly 32 years with the aggregator.
Watkins helped establish the aggregator in 1994 at time when the broker channel was still finding its feet in the Australian mortgage market.
Initially an executive director, Watkins moved into a non-executive role in 2022 as part of a gradual governance transition.
Much of Watkins’ executive career at AFG was spent spearheading the group’s technology and marketing capability at a time when digital tools were becoming central to broker businesses.
[Related: AFG settlements climb as post-budget volumes ease]
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
