Former FANZ BDM gets the nod amid tough environment
Pepper Money has appointed Jennie Latham (pictured right) as a business development manager for New Zealand, strengthening the non-bank’s adviser support.
The non-bank lender’s growth comes despite a challenging environment for non-banks, with two closing their home loan books in recent months.
Extensive BDM and non-banking background
Latham comes to Pepper Money with an extensive background in business development coming from a similar role at Financial Advice New Zealand.
She also has a strong passion for non-bank lending after co-founding New Zealand non-bank lender Solutions out Sourced.
Latham said being appointed to represent Pepper Money was an incredible opportunity.
“I am so pleased to join the team as we share the same ambition to help people succeed and I’m a strong advocate of non-bank lending and the options this opens up for Kiwis,” Latham said.
“For many years, I have focused on helping advisers find lending solutions for borrowers with unique lending requirements.”
Endorsed by country manager
Pepper Money New Zealand’s country head Campbell Smith (pictured above) said that Latham’s appointment highlights Pepper Money’s strong commitment to the adviser community and their clients in New Zealand.
“Our investment in our people further strengthens Pepper Money’s commitment to delivering our market leading and innovative adviser service proposition,” he said.
“Jennie brings extensive expertise in business development within the financial services sector. Her passion and dedication to helping people achieve their goals through non-bank solutions is shown through her experience and we are delighted to have her join our team.
“We recognise the importance of bolstering support in New Zealand. Growing our team underscores our commitment to helping people succeed and providing unparalleled support to advisers.”
NZ mortgage market hinges on non-banks
The announcement comes around two months after non-bank lender Resimac ceased accepting new home loans.
The company’s CEO said there was “extremely challenging” macro-operating conditions the company was facing, namely inflation, rising interest rates against a backdrop of near to full national employment.
Similarly, Bluestone Home Loans, another Australian-owned non-bank lender, announced it would also exit the NZ market last week citing the market is well-serviced and the opportunity was too small.
Despite this, Pepper Money has continued on with its goals in the New Zealand, posting positive results and recently acquiring HSBC’s loan book after the international bank had also exited the market.
Smith said the “vibrancy and competitiveness” of New Zealand’s mortgage market “hinge on the ongoing support of non-banks”.
“The future we envision is one where advisers continue to benefit from a range of competitive lending solutions that can meet the diverse needs of Kiwi borrowers," he said.
Latham said she understands the current challenges being faced in the market and her goal is to help advisers offer flexible options that meet their diverse clients’ needs.
“I’m driven by a passion to support people and businesses to succeed,” she said.
