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Ex-CUA chief joins DirectMoney

Marketplace lender DirectMoney has announced the appointment of a new independent non-executive director to help drive the ASX-listed company’s growth.

Chris Whitehead joins DirectMoney with more than 20 years’ in the financial services and IT industries, having been a former chief executive of CUA and Bankwest.

Mr Whitehead has also worked in a number of other senior roles for companies including Bank of Scotland, Cuscal, and Advance Bank (now part of St. George Bank).

DirectMoney executive chairman Stephen Porges said Mr Whitehead adds invaluable support to the development of the lender’s partnerships with the mutual and wider financial services sector.

“He brings a wealth of governance and operating experience which is directly relevant to the key initiatives driving DirectMoney’s current growth,” he said.

Commenting on his appointment, Mr Whitehead told Mortgage Business he is delighted to join DirectMoney and help brokers provide better personal loans to consumers to complement their choice of home loan.

“I have always been a strong supporter of more competition in lending and recognise how much this has been assisted by the broking industry,” he said.

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“DirectMoney makes it easy for brokers to provide their clients with access to low-cost personal loans across an efficient, online platform. Our loans can be used for gap finance, LMI replacement or other housing-related financing.

“For the broker, we provide an attractive incremental revenue for minimal effort and deepen their client relationships.”

DirectMoney recently announced strategic partnerships with mortgage groups Loan Market and Finsure, as well as risk management firm The Risk Board and finance company Presidian.

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