HomeStart, a non-bank lender backed by the South Australian government, has announced that its chief financial officer Andrew Mills has been named as the lender’s incoming CEO.
Mr Mills will take up the role from December, when current CEO John Oliver retires from the position that he has held for 12 years.
The incoming CEO has held several senior executive positions across the organisation in the last decade and was selected from “a strong field of South Australian and interstate candidates”.
HomeStart chair Jim Kouts said Mr Mills was selected after “a comprehensive national recruitment and selection process”, highlighting his “leadership skills, knowledge and experience”, which Mr Kouts said would stand the incoming CEO in good stead to lead HomeStart.
“Andrew possesses strong financial and business acumen and has been a key contributor to the success of HomeStart, fostering strong relationships within the organisation and externally,” Mr Kouts said.
“He will lead an organisation that has rightfully earned its position as a leader and innovator, having helped more than 79,000 South Australians into home ownership and been profitable every year of operation – returning over $787 million to government in the form of dividends, tax equivalents and guarantee fees.
“HomeStart will continue to build on this success through good governance and sound financial management, and by finding more ways to help more people into home ownership.”
Speaking of his appointment, Mr Mills said he was proud to be appointed to lead HomeStart, adding: “I’m looking forward to building on HomeStart’s strong relationships with our stakeholders and partners to ensure home ownership remains achievable in the future."
It was announced in August that the current CEO Mr Oliver would complete his tenure at the end of the year and move out of “full-time corporate life”.
“I do so with the blessing of the HomeStart board, who I thank for their guidance and for their support as I set out on the next stage of corporate life,” Mr Oliver said at the time.
“I will be leaving proud of all that we have achieved over the past decade or so, and with absolute confidence that all members of the HomeStart team will continue to deliver the great results for our customers that we have done since establishment in 1989.”
While the outgoing CEO said that he was proud of “lots of things” that the organisation had been able to achieve over his tenure, including its financial successes, he added: “[U]ltimately, the real measure of our success is how many people we help into home ownership.
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.