Appointment part of group's new leadership structure
LMG has announced that David McQueen will be the new CEO of Loan Market, as the aggregator undergoes a leadership restructure.
As Australia and New Zealand’s largest aggregator celebrates its 30th anniversary and moves into its next phase of growth, it revealed it wants to provide a clearer distinction between its two business models – Loan Market as a brokerage and LMG as an aggregator.
“Over the last three decades, we’ve grown and evolved significantly,” said LMG executive chairman Sam White (pictured above centre). “Now, as we look ahead, it’s clear that having distinct strategies and leadership for both Loan Market and LMG is essential to support brokers and drive further innovation.”
White said to achieve this LMG is appointing separate CEOs for each business, while he will continue in his role as executive chairman of the group.
Following a comprehensive internal selection process, David McQueen, currently group executive, risk and strategic partnerships, has been appointed CEO of Loan Market.
McQueen boasts more than two decades of leadership experience and has played a pivotal role since joining LMG in 2019, leading initiatives such as ‘Compliance by Design’ and strengthening lender relationships.
“David’s deep understanding of the broker landscape, combined with his strategic vision, makes him the ideal choice to lead the next chapter of Loan Market,” White said.
McQueen welcomes new CEO role
McQueen (pictured above left) will commence his new role in October and said he was excited to take on the role of CEO at Loan Market.
“Since joining in 2019, I’ve been driven by the unique culture at Loan Market – it’s what truly sets us apart,” McQueen said. “My 15 years in leadership across credit distribution, product development, and customer experience, have always been about one thing: supporting brokers.”
McQueen said as CEO he would “focus on listening to what brokers need, delivering on our promises and championing the industry so brokers can continue to thrive”.
“Everything we do, like we have done, is about supporting our brokers and preserving the close-knit, family culture that makes Loan Market special.”
Andrew Thompson moves into broking
The company is also in the process of appointing a CEO for LMG. In the meantime, Rob Thomas will continue as national director for LMG member.
Loan Market national director Andrew Thompson (pictured above right), who has been instrumental in driving growth for Loan Market and LMG Partner, will be starting his own Loan Market brokerage.
Thompson said he had loved his time in the Loan Market and LMG corporate team, working alongside so many talented brokers and helping the business grow.
“After almost 20 years in the industry, I’m excited to take everything I’ve learned and apply it to my own business,” Thompson said. “Joining my wife, Stephanie, in our Loan Market business is an opportunity I couldn’t pass up. I can’t wait to build something special together and continue working within this amazing network.”
White said the leadership changes reflected LMG’s commitment to providing brokers with strong, dedicated support while ensuring “we have the right structure in place to continue to deliver value to our brokers”.
“We’re focused as ever on the promises we make to brokers; save you time, keep you safe, diversify your revenue, find and keep clients and grow your business,” said White.
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