Powered by MOMENTUM MEDIA
the adviser logo
Broker

MFAA leader steps down over key differences

by James Mitchell4 minute read

The MFAA’s head of finance and HR has stepped down from his leadership role, claiming the association was not providing its members with the support they needed.

Just over two months since the departure of former MFAA CEO Siobhan Hayden, leadership team member Stephen Bisgrove has left the industry body.

Along with Evan Thomas and Stephen Hale, Mr Bisgrove formed the leadership team that jointly led the MFAA following Ms Hayden’s departure.

Mr Bisgrove contacted The Adviser last week and revealed that he handed in his resignation on 24 August after becoming frustrated with the lack of support the industry body was providing to its brokers.

Advertisement
Advertisement

According to Mr Bisgrove, there is much more the MFAA could be doing for brokers in terms of education and support in light of the ASIC remuneration review.

"The board is now meddling and changing constitution...they are more worried about governance and how they look than running [the MFAA] for the true member and getting in front of ASIC.

“The review is more about record keeping and the choice of loans. There are things that can be put in place right now to not only appease ASIC but help the members do the right thing. The ASIC review is really about making sure consumers are getting the best outcome. There are things that the MFAA could be doing to help brokers right now which they are not doing,” he said.

“They could be doing a lot more to prepare brokers, regardless of what the outcome will be.”

Mr Bisgrove held his leadership position at the MFAA for 12 months.

On 22 June the MFAA announced that Siobhan Hayden had stepped down from her role as CEO due to "stategic differences" with the board. 

"The board has decided members of the existing leadership team Stephen Bisgrove, Evan Thomas and Stephen Hale will share the leadership of the organisation with a ‘business as usual’ brief to minimise disruption to the association’s 12,500 members as, in time, the search for a new CEO takes place. The group will continue to implement the framework set by the board in February 2016," the MFAA said at the time.

On 5 August the industry body announced that it had appointed de JAGER Executive Search to manage the recruitment of its new CEO.

[Related: MFAA breaks silence on Hayden's abrupt exit]

boxing

James Mitchell

James Mitchell

AUTHOR

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Stephen Hale ta

MFAA launches near-prime, specialist loan resource

Coined Finance for when your customer doesn’t fit the mould: A broker’s guide to near-prime and...

READ MORE
Daniel Newell Gedda

Specialist lender LoanU rebrands to Gedda

The personal and auto loan provider LoanU, which specialises in helping Australians with impaired credit histories...

READ MORE
tech tools

CBA introduces AI technology to combat scams

New figures released by the competition watchdog this week have revealed that Australians lost more than $2 billion...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more