Mortgage group names new GM

An ASX-listed branded broker group has announced the appointment of a new general manager to lead the company’s new franchise business.

Former Aussie Home Loans state manager of NSW and ACT, Andrew Rasby, has been named the new general manager of lending at Yellow Brick Road (YBR).

In his previous role at Aussie, Mr Rasby was responsible for approximately 60 Aussie stores and 180 mobile brokers. Prior to that, he had 28 years’ experience with the CBA Group through various roles with CBA, Bankwest and Colonial First State.

Mr Rasby told that in his new role at YBR he has been tasked with running the ASX-listed group’s national franchise network.

“It’s a really exciting time for YBR and I’m very much looking forward to helping them grow their distribution and store network,” he said. “I’ll be running the stores nationally from a recruitment, support, productivity and mentoring point of view.”

Mr Rasby said he was attracted to the position for the growth opportunities YBR presents and the opportunity to work under the leadership of industry pioneer Mark Bouris.

“Getting stores up and productive and supporting them through the early stages of business really attracted me.”

The appointment of a new general manager comes after YBR announced earlier this year that it would be transitioning from a licensed model to a franchise model.

“Moving to a franchise model is an important progression in our operations,” YBR executive chairman Mark Bouris said at the time.

“The old licence structure served us well but is not adequately responsive or commercial to meet the future challenges and opportunities for a retail oriented business like ours,” Mr Bouris said.

“We’ve had a period of phenomenal growth with multiple acquisitions and the development of new proprietary technologies. It is prudent we bed down this activity and successfully consolidate the acquisitions.”

In an investor report, released last month, the group outlined its plans to achieve a loan book of $100 billion by 2020 and grow distribution to 300 branches.

[Related: Bouris cuts staff and announces major company restructure]

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