Patrick Tuttle will replace industry veteran John Empey as CEO of Pepper Homeloans.
According to a statement released today by the non-conforming lender, Tuttle will use his knowledge and extensive experience in the capital markets and financial services sector to drive the business forward.
Tuttle, Pepper Homeloan’s current chief operating officer, will commence the new role 1 February 2008.
“We believe that Patrick has the right blend of market knowledge and experience to navigate Pepper through the difficult trading conditions currently prevailing in the Australian mortgage market due to the ongoing credit crunch and dislocation in global debt markets,” said Richard Klemmer, President and COO of Oakwood Global Finance – Pepper’s London based parent entity.
John Empey will pursue other interests in the Australian residential mortgage market.