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New CEO and COO announced at Prime Capital

Pepper Money’s Malcolm Withers has been named the new chief commercial officer of Prime Capital, succeeding Steve Sampson, who will become CEO.

Non-bank lender Prime Capital has announced leadership changes as it prepares for its next phase of growth.

Steve Sampson, the lender’s current chief commercial officer (CCO), will become Prime Capital's chief executive officer (CEO) in January 2023, taking over from Paul Scanlon who will focus on developing other parts of the lending group.

Given the leadership change, Malcolm Withers will be joining the business as the lender’s next CCO. He is set to begin his new role on 4 October. 

Mr Withers joins Prime Capital from Pepper Money, where he has been leading the non-bank’s commercial real estate lending business. 

The incoming CCO has a range of banking and financial services experience, having previously been with St. George Bank for nine years, driving its strategic direction of commercial loan acquisition through brokers for St. George, Bank of Melbourne and BankSA. He also spent several years working with Bankwest, Suncorp, RAMS Home Loans and Citibank.

Speaking of the new appointment, Mr Sampson noted Mr Withers’ decades of experience, which spans business development, commercial banking and sales management.

He said the new CCO would lead Prime Capital’s “next phase of growth” by working closely with the lender's growing sales team, mortgage brokers and aggregators.

Mr Sampson said he “couldn’t be more delighted” to welcome Mr Withers as CCO.

“Malcolm is, of course, very well known in the third-party channel and couldn’t have joined us at a better time as we grow our business at scale, strengthen our sales capabilities and support more brokers,” he said.

“His experience in leading commercial lending and broking channels will help us refine our strategy and accelerate efforts to expand our lending portfolio. 

“We are now participating on 11 aggregator panels and our partner brokers will benefit from Malcolm’s experience as we help them expand their services further into commercial transactions.” 

Touching on his move to becoming CEO next year, Mr Sampson told The Adviser: “I'm truly looking forward to developing the team and taking the business through to our next phase, which will include further broker integration and development of more products to satisfy the market.”

Speaking of his new role as Prime Capital CCO, Mr Withers commented: “I’m very much looking forward to contributing to Prime Capital and making an impact on its  partner brokers and their clients.

“It’s a privilege to work with a lender as dynamic, innovative and ambitious as Prime. I can’t wait to be part of the new phase of its journey.” 

[Related: Pepper expands commercial BDM team]

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