The former NAB executive has come out of retirement to join Loan Market and steer the group’s transition as it integrates aggregators Choice, FAST and PLAN Australia.
Mr Kane will assume the new role of head of integration - people and strategy at Loan Market Group, ensuring brokers and network teams are supported through the transition and grow under the new group.
In his new position, he will manage the logistics of integration to the cultural alignment, people and business model strategies of the expanded group.
He will also be tasked with leading the group’s asset finance and commercial strategies.
Mr Kane spent close to three decades involved in the mortgage broking industry, most recently as NAB’s general manager, broker distribution, before retiring in December 2020.
Prior to his current role, Mr Kane was GM of broker platforms, where he oversaw the bank’s distribution performance through its former aggregation businesses – Choice, FAST and PLAN Australia – and delivering three distinct platform identities to the market.
He was CEO of FAST from 2006 to 2012 and was also previously president of the Mortgage & Finance Association of Australia.
Given his extensive experience and first-hand knowledge of the three aggregators, Loan Market has now brought in Mr Kane to help manage the integration.
Loan Market Group’s executive chairman, Sam White, commented: “Steve has a proven track record in improving outcomes for brokers, their customers and relationships with lenders. At a time when brokers have never been busier, he will be a major advantage for the group.”
Mr White added: “Steve’s experience working within NAB’s structure will be invaluable in helping brokers better understand the lender environment so we can do our part to shorten turnaround times across the board – a critical outcome for brokers and their customers right now.
“Steve understands what we want to offer brokers and customers under the expanded group. He’ll be an important sounding board for myself and a familiar face for the brokers, especially those who are joining the group.”
Mr Kane said the decision to come out of retirement was “not made lightly”.
He commented: “I’d been in the industry for almost three decades. When I retired, I knew it would have to be something significant for me to return to the broking industry.
“When Sam approached me and outlined what he intended to do with the expanded group, the opportunity to be part of such a significant initiative was too good to pass on. The culture and values of Sam, the executive team and the entire business resonate strongly with me,” he said.
The new head of integration - people and strategy continued: “I’ve watched closely what Loan Market has done over recent times, future-proofing its brokers’ businesses and bringing them closer to their customers.
“I have a detailed understanding of the PLAN, Choice and FAST aggregation business models and the people within them.
“Above anything else, I look forward to working with the team and adding value in the expansion of the Loan Market Group.”
[Related: Expanded Loan Market focusing on tech, CRM]
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