subscribe to our newsletter

Grow Finance appoints board members

The business lender has appointed two board members while also announcing the departure of another member.

Grow Finance has appointed two executives in the finance industry to its board, with John Murphy joining the lender as the new chairman and Julie Elliot joining as non-executive director.

Mr Murphy, who has also invested in the business, was previously a partner in the international accounting firm Arthur Andersen & Co, where he specialised in mergers and acquisitions, and insolvency and reconstruction.

He has been a founder and managing director of private equity funds including Investec Wentworth Private Equity and Adexum Capital.

He was a director of Investec Bank Australia from 2004 to 2012.


He has held non-executive director roles at Southcorp, Specialty Fashion Group, Vocus Communications, Ariadne, Gale Pacific, Australian Pharmaceutical Industries and Vita Group.

Ms Elliott has over 30 years’ experience in executive and director roles across banking, financial services and government.

She is a non-executive director of Cash Converters International and P&N Bank, and a director of Asia Pacific Capital.

Her previous roles have included CEO at Bank of Sydney from 2013 to 2016, and chair of State Trustees. She previously led financial services teams in senior managerial roles at KPMG, NAB and Westpac.

Meanwhile, Grow Finance executive director Greg Woszczalski announced that David Fairfull is stepping down from the board.


Commenting on his departure, Mr Woszczalski said: “I would also like to acknowledge David Fairfull who is stepping down from the board. He has made a tremendous contribution, and I thank him for his service.”

Mr Woszczalski also welcomed Mr Murphy and Ms Elliott to the board, stating: “On behalf of the Grow Finance board and staff, we welcome John Murphy and Julie Elliott to their new roles. We are already making an impact on the market, and their experience will benefit our growth as we create a strong and sustainable future for the company.”

Mr Murphy spoke of his appointment to the board, stating: “I am delighted to join Grow Finance at this time of great opportunity.

“Despite the pandemic, many businesses have adapted to change successfully, creating new prospects for growth. The management team have harnessed a broad range of product platform that helps SMEs to exploit these opportunities. I look forward to contributing to the company’s growth and helping our talented team achieve their aspirations for the business.”

Grow Finance was established in 2015, with Mr Murphy saying that the platform has placed more than $700 million of loans to more than 12,000 customers.

The lender offers asset finance, trade finance, invoice finance, insurance premium finance and business loans.

It recently appointed a new chief operating officer, Lee Clarke, to help manage its day-to-day activities, and partnered with global electronics manufacturer LG and was named as LG Solar and Energy’s preferred financial supplier.

Grow Finance acquired Australian Invoice Finance in 2020 and the Eclipx Commercial business for $14.6 million in 2019.

[Related: Business lender acquires invoice financier]

Grow Finance appoints board members
Grow Finance appoints board members

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.


If you have any news, ideas or enquiries for Mortgage Business - please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The total value of residential dwellings rose by almost $450 billion in the March quarter to surpass $8 trillion for the first time, accordi...

Consumers signalled stronger intentions towards home buying in May, as the big four bank has predicted house prices are set to increase by m...

Westpac Group has announced that it is creating more than 300 new roles (including lending and credit assessor roles) in Adelaide. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.