Challenger Mortgage Management has announced further restructuring that will see Alex Moulieris move to a non executive position and Steve Weston take a leading role in managing distribution, broker platforms and lending, effective from December 2.
Last month the group announced that Drew Hall would step up from his position as chief financial officer and chief operations officer to replace Brian Benari as chief executive of Challenger Mortgage Management.
Mr Hall told Mortgage Business that as part of this reorganisation the group had also looked at its functional structure.
Mr Hall said the group would take a vertical approach to its key operating functions to make full use of its resources and drive the development of alternative revenue streams via its broker network, which is reflected in the changes announced yesterday.
As part of the new structure Mr Hall said that Mr Moulieris would move “out of the day-to-day operations” to play a more strategic role “concentrating on the future direction of the business”.
Daily operations will now fall under the control of Steve Weston.
Mr Weston joined Challenger as head of distribution for wholesale finance in 2005 having spent the previous five years at St George as general manager, mortgages and general manager Queensland.
He was a key member of the Challenger management team responsible for the acquisitions of Choice Aggregation Services and PLAN Australia as well as the 19 per cent stake taken in FAST.
His new title will be general manager of distribution, broker platforms and lending.
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