subscribe to our newsletter
Mortgage industry pioneer to leave Macquarie

Mortgage industry pioneer to leave Macquarie

A leading figure in the Australian mortgage industry will retire from his position as executive director after almost 28 years with Macquarie Bank.

Mortgage Business can confirm that Macquarie’s current head of intermediary banking, Frank Ganis, will leave the challenger bank in June after 17 years as an executive director and 28 years at the organisation.

In an email to staff, Macquarie’s deputy managing director Greg Ward said that the bank’s home loans business “has largely been moulded by Frank during his long career at Macquarie”.

“A founder of the business, he’s since played a pivotal role in its growth and expansion, steering it through a well-timed wind-up that minimised our exposure during the GFC, through to its relaunch in 2009 and subsequent expansion to our now almost $30 billion business,” Mr Ward said.

“The wonderful relationships that Frank has built across financial services are a major part of his legacy; relationships he’s brought to bear in the form of BFS’ partnerships with Aussie, iSelect, Mortgage Choice, YBR, Connective, AFG and many more,” he said.

Mr Ganis partnered with Aussie Home Loans to bring non-bank securitisation to Australia in the early 1990s and was a pioneer in disrupting the home loan market during that time.

“The impact on the market from this innovation was profound – it transformed the mortgage industry in Australia, increased competition and gave better choices to consumers, and was the genesis of the mortgage broking industry as we see today, which now accounts for half of the home loan market,” Mr Ward said.

Mr Ganis will work with Macquarie’s head of sales and distribution – intermediaries, Doug Lee, as well as mortgage banking leader James Angus and the group’s head of banking and financial services, Ben Perham, up until his departure in June.

Effective this month, Doug Lee and James Angus will report directly to Ben Perham.

Mortgage industry pioneer to leave Macquarie
mortgagebusiness logo

Latest News

The major bank has been scrutinised by the financial services royal commission over its response to a technical error that more than doubled...

APRA’s latest effort to control the mortgage market will force the average Sydneysider to fork out a $369,542 deposit for median-priced ho...

Reserve Bank of Australia governor Philip Lowe has warned that China’s “highly indebted economy” poses a threat to prosperity in Austr...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?