Mortgage veteran Frank Ganis has joined a national mortgage brokerage after stepping down from his role as executive director at Macquarie Bank earlier this year.
In a trading update this morning, Yellow Brick Road Holdings (YBR) announced the appointment of Frank Ganis to its board as a non-executive director.
Formerly an executive director at Macquarie Group, Mr Ganis co-founded Macquarie's mortgages and securitisation business in the early 1990s and was a leader in building the mortgage securitisation sector in Australia.
YBR executive chairman Mark Bouris welcomed Mr Ganis to the board.
“Frank Ganis will be a great asset to YBR," Mr Bouris said. "As we continue to deliver on our strategy, Frank’s input on the board will be invaluable. He has unrivalled expertise in developing funding alternatives and is widely respected for his role in the evolution of the Australian lending landscape.
“As YBR continues to capitalise on our strong brand and distribution network, we will benefit from Frank’s extensive knowledge and experience in the sector.”
Mr Ganis’ appointment is effective immediately.
Frank Ganis was instrumental in the restructuring, transformation and growth of the Australian mortgage industry over a 28-year tenure at Macquarie Group.
He was responsible for the launching of Macquarie’s mortgages and securitisation business and establishing the PUMA Program as a leading Australian issuer of residential mortgage-backed securities. This had an extensive and profound impact on the Australian mortgage industry, specifically sponsoring and promoting greater competition, providing better choices to consumers, and creating today’s third-party, wholesale and intermediary distribution channels and industry.
During his 28 years at Macquarie, Mr Ganis had oversight of Macquarie’s key strategic retail banking alliances and relationships, and was responsible for the development, delivery and funding of financial products and services, designed to be used and distributed directly and by external financial intermediaries (financial planners, advisers and mortgage brokers).
Mr Ganis is often recognised as a pioneer and influential industry leader in Australia, with more than 35 years’ experience in banking and finance. He was an executive director at Macquarie for more than 17 years.