- New structure includes three key group roles:
- Tim Brown appointed to CEO Lending
- Matt Lawler as CEO Wealth Management
- Scott Graham continues as Chief Commercial Officer.
- Changes reflect decision to leverage two businesses and strive to achieve ambitious group goals.
- Timely integration, 18 months since the acquisition of Vow Financial.
Yellow Brick Road Holdings Limited (ASX:YBR) executive chairman Mark Bouris is today announcing a structural change to his group (including companies Yellow Brick Road and Vow Financial).
Yellow Brick Road Holding’s business structure will change to now span the two companies and realign with the company’s core business units – Lending and Wealth Management.
The former leadership structure was shaped by two separate business entities: Vow Financial (CEO Tim Brown) and Yellow Brick Road (CEO Matt Lawler). The new business structure sees the roles operate companywide supporting strategic verticals: Lending and Wealth Management. Chief Commercial Officer Scott Graham will oversee the company’s operations to become a centre of excellence for group-wide benefit and ensure the business stays agile and continues to be leader in technology innovation.
Mr Bouris says that the companies had begun working more closely but that this was the next step to achieve some big company-wide goals in the coming years. In pursuit of becoming the leading non-bank financial service company in Australia, key medium-term deliverables include:
- $100b loan book by 2020
- 30% wealth clients by 2020
- 300 branded branches and 1,000 broker groups by 2020.
“Our intention in 2016 is to double down on our wealth activities and maintain the momentum in our
lending businesses. As a result I have re-appointed our current CEOs portfolios to align with the two
business units and reflect their individual expertise and strengths,” Mr Bouris said.
New CEO – Lending Tim Brown has over 30 years’ experience in the banking and finance industry where he has held senior management positions in organisations such as Macquarie Bank, LJ Hooker, Suncorp, Aussie Home Loans and AVCO Finance (now GE Capital).
“Tim has significantly grown the Vow Financial network and turned the business into an aggregator powerhouse since joining the business. He will lead the charge in sales and distribution of products and branch/broker productivity across the Yellow Brick Road group of companies including RESI, Vow
Financial and Yellow Brick Road,” Mr Bouris said.
The CEO –Wealth Management is Matt Lawler who has over 25 years of senior wealth experience
across investments, insurance and financial planning. He worked for MLC Wealth for over 22 years
culminating in his appointment to the role of Executive General Manager MLC Advice and Distribution before joining as CEO of Yellow Brick Road.
“Our ambition is to dramatically accelerate our wealth activities using the foundation of our strong
distribution platform. Matt will increase the volume of mortgage customers who are given wealth
management advice and products, whilst ensuring innovation in our wealth offerings and a significant
expansion of our wealth providers across Australia,” Mr Bouris said.
Chief Commercial Officer Scott Graham will support Mr Lawler and Mr Brown, continuing to oversee
commercial strategy, marketing, media and investor relations. In addition, Mr Graham will now oversee the organisation’s business and IT platforms and manage relationships with the major strategic partners.
“Our company goals are ambitious but with the new structure in place we will be well-placed to achieve them. I’m confident these leaders have the drive, experience and knowledge to propel Yellow Brick Road Holdings forward towards our big objective to become the leading non-bank financial services company in Australia.”
About Yellow Brick Road Group
Yellow Brick Road is a group of wealth management and financial services companies headed by Executive Chairman Mark Bouris. Yellow Brick Road offers tailored advice and services to Australians wanting to build financial security for the future. With its extensive neighbourhood based branch network, Yellow Brick Road Group is committed to delivering accessibility, quality financial advice and competition in the market. For more information visit www.ybr.com.au.