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Increased investment marks change at ALI

Staff Reporter 4 minute read

By: Staff Reporter

ALI Group (ALI) has today announced a number of business and senior staffing changes as it seeks to further capitalise on the rapidly evolving mortgage broker distribution channel.

Yarra Capital, the major shareholder in ALI, recently announced its decision to increase its level of investment to help the business strengthen its distribution of mortgage protection to mortgage brokers.

ALI's executive chairman Mr Truong said the additional investment in ALI and a more hands-on approach comes at a time when brokers are embracing the chance to offer mortgage protection.

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“We’ve been encouraged by the level of broker engagement and industry activity in relation to mortgage protection. However we remain firmly behind our strategy of protecting more Australian households and empowering brokers," he said.

As a result of this increased investment, ALI has said it will make several staffing changes. Mr Truong will replace Tasso Papachatgis as the company’s chief executive officer at the end of this month,

But while Mr Papachatgis is set to leave the company in less than one month, he said ALI is currently in an excellent position to take advantage of the opportunity that providing mortgage protection through brokers presents.

“ALI has a very strong team with some exciting developments in the wings. I feel that the time is right for me to pursue my next challenge and I look forward to contributing to ALI’s success in an advisory role over the coming months,” he said.

The company has also appointed a new head of sales and distribution, Darren Smith, who will focus on driving increased business from accredited brokers as well as engaging aggregation and brokerage groups.

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Mr Smith joins ALI from MLC, where he was head of alliances following the purchase of Aviva Australia by MLC in the second half of 2009.

Increased investment marks change at ALI
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