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Jamie McPhee has begun his new role as chair of the digital lender’s board.
McPhee has succeeded previous chair and non-executive director of MONEYME, Peter Coad, following his retirement that came into effect on 1 June 2024.
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Coad assumed the role of chair during MONEYME’s listing in 2019 and stepped down from the role citing “personal reasons”.
The digital lender’s board elected McPhee as Coad’s successor in May, who first joined the lender as a non-executive director in March 2024, carrying 35 years of experience in financial services.
Most notably, McPhee was the CEO of ME Bank and executive director of Bendigo and Adelaide Bank. He is currently a director of G&C Mutual Bank and previously chaired SocietyOne from March 2021 until its acquisition by MONEYME in March 2022.
Speaking on his tenure, Coad said: “I have been honoured to serve as director and chair of MONEYME for over four years, supporting the company’s growth from an early-stage business to an ASX-listed company with a multi-product loan book surpassing $1 billion.
“I am immensely proud of the progress the business has demonstrated in a relatively short amount of time.
“We have achieved significant milestones, including expanding MONEYME’s product offering into new verticals, and the successful acquisition and integration of SocietyOne.”
Coad reflected on the “numerous challenges” the lender faced during his tenure, such as navigating the “complexities of a global pandemic” and adapting to rapidly shifting macro-economic conditions.
“I am grateful to leave the business on solid footing and well placed for the future. It is with confidence that I now pass the responsibilities of chair to Jamie McPhee,” Coad said.
Commenting on his new role, McPhee said it’s a “privilege to be appointed as chair of MONEYME”.
“I look forward to collaborating with the board, the founding CEO, and the entire management team as MONEYME continues to challenge outdated industry practices and provide exceptional borrowing experiences for Australian consumers,” McPhee said.
“MONEYME’s dedication to customer-centric innovation and strong focus on environmental, social, and governance best practices position it uniquely in the market, and I am eager to contribute to the company’s ongoing success.”
McPhee’s commencement as chair comes as MONEYME confirmed that it had secured a deal with its debt funders to double its auto finance warehouse facility – Autopay – from $375 million to $750 million.
The lender said that the new terms mean that the loan book growth in the Autopay warehouse was “significantly more capital-efficient”.
[RELATED: MONEYME doubles its car loan facility]
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