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The software and origination solutions company has appointed its previous chief customer officer, Michael Phillipou, as CEO.
The appointment of Mr Phillipou to CEO comes after his predecessor, Julian Blackley, ceased working with Sandstone in January 2020. He had also been internally promoted to the role of CEO in 2017, after rising from the role of CFO to take the helm. He left the company earlier this year and now holds the position of chief financial officer of digital commerce platform Ultra Commerce.
Bob Hall, Sandstone’s co-founder and chairman, had been filling the position in an acting capacity since February of this year.
Mr Phillipou’s appointment is effective immediately, with Mr Hall continuing his role as chairman.
According to Mr Hall, the newly appointed CEO brings with him a “depth of experience” in the finance sector, having held general management roles at Westpac and Bendigo Bank, as well as co-founding the loan and deposits marketplace Lodex.
Mr Phillipou was originally engaged as general manager at Sandstone Technology in September 2019, climbing the ranks to become CCO in January 2020.
Mr Hall stated: “[Mr Phillipou] has made a significant impact for Sandstone across customer and staff engagement, governance and strategy.
“I am very much looking forward to the next phase for Sandstone under Michael’s leadership.”
Speaking of his new appointment, the CEO commented: “I am thrilled and honoured to be appointed CEO of Sandstone Technology, a market-leading financial technology company. Moreover, I am very excited to have the opportunity to lead the company through this next period of growth.”
Noting the company’s global reach and “exceptionally strong track record” in producing digital banking products (including lending origination systems) and “an ultra-consistent track record of delivering complex transformation programs”, he added: “I would like to pay homage to the co-founders and key stakeholders for their vote of confidence in this appointment and for their unwavering commitment to drive the organisation forward.
“I am looking forward to continue working with our committed people, valued customers and partners to build on the pillars of strength laid down before me,” he said.
[Related: Fintech launches home loan top-up service]