O’Brien will head to Newcastle BS to take up the newly created position of head of third party lending. The move followed months of speculation that O’Brien was due to depart the alliance.
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Vic Jannels, chairman of the PMPA, said: “We are sorry to lose Jon, who has contributed much to the growth of the PMPA over the last six years. That said, we understand his desire to further his career, and we are delighted that he is able to do so with a progressive lender like Newcastle BS. We are looking forward to continuing our relationship with Jon and conducting business together long into the future. We are in the process of consulting with our members, and will meet with them to discuss succession planning over the next week.”
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Steven Marks, lending and operations executive at Newcastle, said: “We’re delighted Jon O’Brien is joining us. His new position demonstrates our intention to grow all forms of lending through brokers. We feel that, given the depth of Jon’s expertise and contacts, he will be a tremendous asset. Jon will be on board in June, at which time we will be providing a further update on what we expect to do in the market.”
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