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Online lender changes management team

by Reporter10 minute read

The management team of an ASX-listed lender has changed, following the appointment of a new chief executive officer, and resignation of a director.

In September of this year, Anthony Nantes replaced Peter Beaumont as CEO of DirectMoney, as Mr Beaumont — who runs the broker channel for DirectMoney — became chief operating officer (COO).

Mr Nantes’ CEO contract, which commenced on 29 September and has no fixed term, comes with a base remuneration salary of $200,000, plus statutory superannuation.

Prior to being the CEO of DirectMoney, Mr Nantes was COO at fintech company Prospa, an online lender focused on the SME market. He has also held various senior leadership roles such as director of sales, marketing and innovation at UXC (now CSC), director of professional services at UXC Consulting, and CEO at Planpower, an Australian IT company.


Mr Nantes is brother to John Nantes, who stepped in as chairman to the board earlier this year, after Stephen Porges stepped down to become non-executive director.

Mr Porges has now resigned from his role as director.

The board thanked Mr Porges for his “significant contribution to the company through his many roles”.

It commented: “Stephen has provided strong leadership for DirectMoney, with his experience, guidance and knowledge invaluable to the performance of the company. The board wish Stephen well in his future endeavours.”

Mr Porges said: “With a refreshed board, and new CEO, I have the utmost belief in the team now in place to lead the company through the next stage of growth. I believe the company is well positioned to become a leading fintech in the Australian market, and will continue to support the company in a variety of ways. I wish the company all the best for the future.”

[Related: Brokers drive 77% surge in originations for online lender]

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