ARCA names next CEO

According to the Australian Retail Credit Association, Elsa Markula will commence her new role from 1 August this year. 

Ms Markula first joined ARCA in 2013 as the legal & regulatory affairs manager, serving in the position for almost 10 years. 

The association has said Ms Markula played a key role in “the development of comprehensive credit reporting” in Australia during her time in the management role. 

In late 2021, Ms Markula was named as the executive director of ACRA’s regulatory affairs.

Prior to her time with the credit body, Ms Markula was also a case manager with Victoria’s Financial Ombudsman Service from 2010 and 2013, and a solicitor for roughly five years.

Speaking of the decision to name Ms Markula to the role, Mr Wilson said that the board “undertook an extensive search over four months involving both internal and external candidates”. 

He said that it was a “testament to the depth of talent in ARCA” as well as Ms Markula’s experience and background that she was appointed. 

“The board looks forward to working with Elsa on continuing to develop the important role ARCA plays in the credit reporting industry and supporting consumers and industry make better credit decisions,” Mr Wilson added. 

Ms Markula commented that she believed ARCA “is a fantastic organisation”, and is staffed by an “extremely passionate and experienced team”. 

“I am thrilled by the opportunity to lead this team as we seek to both consolidate and expand our role within industry and continue to build greater awareness of data and the critical role data has in credit decisioning and management,” Ms Markula said.

In her new role, Ms Markula replaces outgoing chief executive Mike Laing.  

Mr Laing confirmed his decision to step down from the role in March, citing a desire to take a sabbatical before returning to his “former portfolio life as company advisor and director”.

Mr Laing first joined ACRA in 2012 as chair, before moving to the role of CEO in 2019. 

“Mike has been at the helm of ARCA during a period of enormous change as ARCA has supported the introduction of comprehensive credit reporting in Australia,” Mr Wilson said of Mr Laing. 

“The board is also grateful that when he announced his decision to stand down as CEO in March, he was willing to stay on and ensure a smooth transition to the new CEO.”

[Related: ​​Citi licence revoked following NAB merger]