Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

YBR director resigns

Source: Google Maps

ybr   ta ybr   ta
Reporter 4 minute read

A director at Yellow Brick Road has handed over his resignation after eight years in the role.

Yellow Brick Road has announced that its director of eight years, Owen Williams, has resigned from his role.

According to YBR, Mr Williams’ resignation follows a “recent increase in workload in his consulting business, resulting in an inability to continue to commit the necessary time to the board of Yellow Brick Road”.

The outgoing director has been with the diversified mortgage and financial advice business since it listed on the Australian Securities Exchange (ASX).

Advertisement
Advertisement

YBR’s ASX disclosure recognises Mr Williams’ “reasoned and analytical approach”, which has helped the company resolve “what have at times been difficult and complex issues”.

Further, during his position as chair of the audit and risk committee, Mr Williams was a “key contributor to the development of [YBR’s] governance and risk framework and to supporting management in responding to the dynamic regulatory environment”.

The company thanked the outgoing director for his contribution and wished him well in his future endeavours.

YBR said Mr Williams has committed to providing consulting services on specific issues in the future.

The company recently released its financial results for the quarter ending 31 March 2019 (Q3 FY19), recording an operating cash surplus of $40,000, a $110,000 increase from a deficit of $70,000 in the previous quarter.

PROMOTED CONTENT


The increase was partly driven by a 5 per cent reduction in its operating cash outflows (excluding its branch and broker share of revenue), which declined from $8.4 million to $8 million.

YBR’s underlying mortgage book increased by 1 per cent over the quarter, rising to $49.2 billion.

[Related: YBR reports quarterly results]

 

YBR director resigns
ybr   ta
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

ybr   ta

 

more from the adviser
Mike Felton new mb e12d

Breaking News

Association working to ‘fix’ reference checking laws

The MFAA has been working with Treasury to “fix” reference c...

digital technology user

Breaking News

Money management app flags broker push

Clever, a new money management platform, has launched to market, ...

mortgage calculator

Breaking News

Bank increases maximum loan amounts

A non-major bank has raised its maximum loan amounts by up to $90...