The Australian-headquartered lender wants a senior figure with knowledge of the NZ market to lead its operations.
Resimac is on the lookout for Church’s replacement after her departure to join Australian non-bank lender Prospa in February. Church has taken up the role as the SME lender’s New Zealand general manager.
Scott McWilliam, Resimac CEO, has previously stressed the importance of running day-to-day operations from New Zealand. McWilliam gave the group's CFO Jason Azzopardi more oversight of the business following Church's departure, and gave senior management more oversight of the New Zealand business.
The non-bank mortgage lender wants a head of NZ to build relationships with advisers, raise brand awareness, and lead the existing NZ team, according to a public job advertisement. The role demands previous experience in NZ financial services and would be based in Auckland.
The search to fill the senior position comes at a significant time for Resimac. The lender last week unveiled an aggressive new price strategy, dropping its two-year rate to just 4.46%.
The firm is making a play for borrowers that may not fit banks’ criteria, as the big four continue to tighten their servicing tests.
The appointment is likely to be crucial for Resimac’s New Zealand aspirations. A host of other non-bank lenders have entered, or rejoined the NZ market over the past two years, spotting an opportunity as traditional lenders tighten their belts. Pepper is the latest to show an appetite for NZ.
Resimac has enjoyed significant growth over the past year as customers look for alternative finance. The trend has been echoed across the market. According to advisory firm KPMG, non-banks posted a 22% increase in net profit last year.
