Is specialist lending really that special?
Specialist lending was supposed to be for atypical situations, but the pandemic has left a complex environment in its wake, making the option one that brokers may turn to more often
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THE SPECIALIST LENDING moniker might be past its use-by date.
With traditional banks narrowing lending criteria and more borrowers finding themselves in atypical situations due to the economic cross-currents seen since 2020, specialist lending is becoming both more common and more appropriate for many customers.
Non-bank lenders are ready to assist brokers in staying ahead of the curve as the market evolves.
La Trobe Financial expects the upcoming period to be positive for brokers on the back of the pandemic-related disruption the industry has experienced over the past two years.
Bannister says any loan for the typical range of borrowers – from first home buyers to upgraders, downsizers, the self-employed and those looking to build a home, right through to those looking to build their retirement nest egg via an SMSF loan – could become a ‘specialist loan’ at some point in time due to the client’s circumstances.
“This could be due to a change in employment, variability in income, minor credit impairment, [or being] self-employed without up-to-date financials,” he says.
Bannister says the range of loans offered by traditional banks has narrowed significantly in recent years as they pursue the ‘prime vanilla’ home loan, a segment that can be scaled en masse, thanks to highly automated credit processes that require very little human intervention or oversight.
“The result of this is that in fact, today’s ‘near prime’, ‘specialist’, ‘underserved’ or ‘overlooked’ borrowers were likely to have fit bank acceptance criteria of the past decade.”
These borrowers will turn to non-banks more and more, he says.
Two underlying dynamics are at play in the current market as it transitions away from a purely pandemic-related narrative. Consumer sentiment is changing as future generations choose performance over historical allegiance, and more products are becoming available via non-banks as traditional banks continue to focus on “simplified” offerings.
Bannister says non-banks can offer more tailored solutions as they employ more detailed, and often manual, credit assessment techniques.
Brokers have a central role to play as post-pandemic financing enters these new waters, and they will continue to see their businesses expand.
“We expect to see broker share continuing to grow, targeting the 70% milestone, and we hope to see the non-bank financial institution market share heading back to 10% and beyond.”
La Trobe Financial is ready to help brokers get there.
Overstating the complexity of specialist lending is a long-standing issue in the market, despite the need for a more personalised approach being its biggest difference. Liberty demonstrates this by tailoring the loan product to match the customer, rather than trying to make the customer’s circumstances match the loan product.
Self-employed borrowers are one example of the type of customer that non-bank lenders are suited to helping.
“Non-bank lenders have traditionally offered more flexible solutions and cater to a more diverse pool of customers,” says Mohnacheff.
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Providing flexibility to customers is also important to Liberty but will become even more so as the economy opens up.
“We anticipate more customers will be looking for alternative and flexible ways to manage their finances, or for better ways to tackle existing debt,” says group sales manager John Mohnacheff.
“For brokers, these kinds of scenarios provide a real opportunity to help people in meaningful ways.”
The need for greater flexibility will stem both from the economy bouncing back from COVID-19, and from possible negative factors such as rising interest rates, geopolitics, or natural disasters.
“Specialist lenders like Liberty are well suited to providing credit throughout these periods of change and uncertainty, thanks to the custom nature of our assessment methods,” says Mohnacheff.
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Liberty has a long history of thinking outside the box in this area, having offered specialist loans for almost 25 years. It has flexible solutions for home, car, business, personal, as well as commercial and SMSF loans.
For customers that may not fit the cookie-cutter requirements of a major lender, the chances are that Liberty can provide an alternative. Its product range aims to fill a gap in the market and provide tailored solutions with flexible LVRs.
“We recognise that every customer situation is unique, and assess each application on a case-by-case basis to ensure we get the full picture,” says Mohnacheff.
“Whether a customer has historical credit issues, non-standard income or simply does things differently, together with brokers we help them find their best fit.”
As one of Australia’s leading credit asset managers specialising in asset management and credit, La Trobe Financial is committed to making a positive impact on its community. With seven decades of proven credit management behind it, La Trobe Financial has funded over $36bn of investment for more than 205,000 customers. Its investors include large global institutions, Australia’s major banks, family offices, fund managers, and 55,000 everyday investors in its award-winning credit fund. La Trobe Financial is driven by one cause – to place “others before self” and make a positive impact by helping people create wealth with specialist and investment solutions.
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As a leading Australian non-bank lender, Liberty offers innovative solutions at competitive prices to support customers with greater choice. Over the past 24 years, this free-thinking approach to loan solutions has seen more than 600,000 customers get finance across a wide range of home, car, personal and business loans, as well as SMSF lending and insurance products. Liberty remains the only non-bank lender with an investment-grade credit rating offering custom and prime solutions to help more people get finance.
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“We recognise that every customer situation is unique and assess each application on a case-by-case basis to ensure we get the full picture”
John Mohnacheff,
Liberty
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“Where there may be confusion and complexity, there is opportunity,” says senior vice president and chief lending officer Cory Bannister.
Brokers increased their share of the lending business amid the pandemic and accompanying turbulent economic environment. This momentum has created new opportunities for them and will similarly lift non-banks going forward, he says.
“We’re seeing an increasing broad acceptance by consumers of non-banks generally and expect to see continued growth in non-bank volumes over the coming year and beyond.”
Bannister sees the industry at a historic turning point that will usher in long-term growth for the specialist lending sector.
“Our key differentiator is the breadth and depth of our product range. We have the broadest product suite in the non-bank market which has been modelled on having a product for every life cycle in mind for brokers,” he says.
La Trobe Financial offers loan sizes of up to $25m, generally larger than those available from many of its non-bank peers.
“Today’s ‘near prime’, ‘specialist’, ‘underserved’ or ‘overlooked’ borrowers were likely to have fit bank acceptance criteria of the past decade”
Cory Bannister,
La Trobe Financial
Industry Experts
Before Thinktank – a leading independent property lending specialist – director Per Amundsen built a book of $1.5bn in SME commercial property loans in his role as general manager of AMP Property Finance. He also brings to the company an amalgamation of property finance experience from institutions such as Toronto Dominion, Westpac and Mirvac, and is an executive member of the Risk Management Association Australia.
Thinktank
Per Amundsen
Cory Bannister is senior vice president and chief lending officer at La Trobe Financial. He joined the company in 2000 and has held both head of credit and head of distribution roles. His portfolio management experience spans the selection and allocation of assets for multiple wholesale mortgage portfolios in excess of $1bn. Bannister is chairman of the company's Origination & Credit Committee and Large Loan Sub-Committee, and a member of the Executive Committee and the Asset Liability Committee.
La Trobe Financial
Cory Bannister
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Brokers’ market share continues to rise
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John Mohnacheff is Liberty's ebullient and charismatic group sales manager. With over 30 years of insurance, banking and finance experience, he is committed to improving the sales habits and disciplines of the entire Group Sales team. Before joining Liberty, Mohnacheff held executive roles at Westpac and Bank of Melbourne. He has a Bachelor of Business degree and a Master’s in Marketing from the University of New England, as well as a Postgraduate Diploma in Organisational Behaviour from the University of NSW.
Liberty
John Mohnacheff
Cory Bannister is senior vice president and chief lending officer at La Trobe Financial. He has a rich understanding of both the loan origination process via the third party channel, and the approval and settlement of institutional and retail loans. Bannister’s portfolio management experience extends to the selection and allocation of assets for multiple wholesale mortgage portfolios in excess of $1bn. He has been responsible for the management, review, risk profiling and audit of wholesale asset pools, and had conduct of the relationships with substantial wholesale and retail investors and responsibility for overseeing related reporting.
La Trobe Financial
Cory Bannister
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Industry Experts
Cory Bannister is senior vice president and chief lending officer at La Trobe Financial. He joined the company in 2000 and has held both head of credit and head of distribution roles. His portfolio management experience spans the selection and allocation of assets for multiple wholesale mortgage portfolios in excess of $1bn. Bannister is chairman of the company's Origination & Credit Committee and Large Loan Sub-Committee, and a member of the Executive Committee and the Asset Liability Committee.
La Trobe Financial
Cory Bannister
Before Thinktank – a leading independent property lending specialist – director Per Amundsen built a book of $1.5bn in SME commercial property loans in his role as general manager of AMP Property Finance. He also brings to the company an amalgamation of property finance experience from institutions such as Toronto Dominion, Westpac and Mirvac, and is an executive member of the Risk Management Association Australia.
Thinktank
Per Amundsen
Brokers who use the tool are seen as a trusted source of information by clients. This frequently leads to deeper conversations with clients about their goals, so brokers can ensure the solution they put forward supports the customer into future.
Pepper Money plans to expand its tech investment in specialist lending.
“We’re investing in our digital capabilities and new products to better meet the needs of this category across the next 12 months,” says Saoud.
“Not only will this reinforce our market-leading turnaround times, but it will allow for a more seamless approach between the customer, broker and us as the lender.”
He thinks the year ahead will see demand for specialist lending solidify.
“As rates shift upwards, we’re expecting sharper borrower demand for greater loan options and flexibility,” says Saoud.
Grow Finance co-CEOs David Verschoor and Greg Woszczalski expect to see steady demand from businesses for alternative working capital products.
“There will be sustained demand for alternative working capital products to boost growth, particularly asset finance, invoice finance, and trade finance facilities to offset supply chain disruption,” they say.
Grow’s focus is on delivering disruptive products, including product extensions, enhancements and fusions that reduce cash flow pressures in a volatile market.
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Barry Saoud
Pepper Money
David Verschoor and Greg Woszczalski
Grow Finance
Barry Saoud
Pepper Money
David Verschoor and Greg Woszczalski
Grow Finance
David Verschoor and Greg Woszczalski are co-chief executives at Grow Finance (Grow). Verschoor is a seasoned finance professional with broad knowledge of risk management, regulatory compliance and trading. He has extensive experience in credit underwriting and policy formulation, as well as the provision of strategic advisory, and has held previous roles at Westpac and BNP Paribas. Woszczalski has worked for over 20 years across many business sectors, structuring and implementing cash flow solutions and consulting on company restructures. He is a former board member of the Debtor and Invoice Finance Association and co-founder and executive director of 180 Group.
Grow Finance
David Verschoor and Greg Woszczalski
Barry Saoud joined Pepper Money in July 2021 as general manager, mortgages and commercial lending and is responsible for its strategic direction and operating performance across product, credit and settlements sales functions for Australia and New Zealand mortgages, commercial loans, personal loans and direct sales. With over two decades’ experience in financial services, Saoud has held numerous roles across legal, company secretary, sales and product management with the likes of Aussie Home Loans, GE Capital, HSBC and Norton Rose Fulbright. He is a passionate leader with proven ability to grow businesses and exceed targets through innovative strategy and effective execution.
Pepper Money
Barry Saoud
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Grow Finance is a leading non-bank business lender with a vision to help companies thrive in today’s increasingly complex and competitive environment. It is a ‘one-stop shop’ for all asset finance and working capital requirements, including business loans plus asset, trade, invoice, floorplan and insurance premium finance. Grow is agile, innovative and inspired by product fusions and redefining product classes. The group actively responds to market demand with sharply priced product enhancements, product extensions and new products. Its growth is sustained through continual platform enhancements and progressive team extension, as supported by a recent capital raise and new warehouse facility.
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55.3%
59.4%
66.5%
Oct–Dec 2019
Oct–Dec 2020
Oct–Dec 2021
Online share of retail sales, selected economies, 2018–2020
Source: MFAA quarterly survey, December 2021
Demand for specialist loans, including from first home buyers, has increased since the tightening of bank acceptance criteria. This makes knowledge of specialist lending an important tool for brokers. To help broaden their understanding, Liberty offers brokers direct access to its credit team and actively helps newcomers.
“We’re dedicated to supporting brokers to learn about the opportunities available,” says Mohnacheff.
“With the largest BDM team of all non-banks, Liberty is eager to assist any broker through their loan scenario and answer any questions.”
Pepper Money has a similar stance on where the market is heading in the aftermath of the pandemic.
General manager of mortgages and commercial lending Barry Saoud says specialist lending has become more important than ever as job patterns diversify and the economy recovers.
“People have had their businesses closed, their employment interrupted, cash flow reductions and savings patterns interrupted, bringing a need for specialist lending to people that may not have ever considered it necessary in the past,” he says.
While part of the growing demand for specialist lending is driven by pandemic-related factors, some of it is more of a natural evolution.
Saoud says there is a new generation of borrowers contributing to demand seen by non-bank lenders. This includes small businesses and the growing self-employed market, along with the large number of existing businesses that are looking for products and options designed to accommodate their real-life circumstances.
Many in this group are finding traditional channels for funding more challenging than in the past.
“As long as banks’ appetite to lend continues to fluctuate, the opportunity exists for alternative lenders like us to fill that gap,” says Saoud.
Pepper Money is one of Australia and New Zealand’s leading non-bank lenders. Established in 2000, Pepper Money first launched as a specialist residential home loan lender in Australia with a focus on providing innovative home loan solutions to customers that were being underserved by traditional lenders. Today, Pepper Money has a broad product offering of residential home loans, personal loans, asset finance, novated leases and commercial real estate loans across Australia and New Zealand.
There is an image that non-bank lenders are the option of choice for borrowers who have had a ‘life event’, but the shift towards atypical incomes is also pushing customers to non-bank lenders.
Saoud says anybody from an NRL player to a self-employed tradie would fit into this category.
“The more these jobs and roles evolve, the more a non-bank such as Pepper Money will come to the forefront of enabling a solution for them.”
Pepper Money partners with aggregators to provide tools, resources, training, and targeted education events to assist brokers with offering specialist solutions. It also has a vast local BDM presence dedicated to helping brokers with scenarios and broadening business opportunities.
Borrowers are looking for someone to take the time to understand their circumstances and show that they genuinely want to help them succeed, says Saoud.
The non-bank's key tool for brokers is the Pepper Product Selector, which allows them to use client information to receive an indicative offer in just a couple of minutes.
“Transparency is key, offering customers an indicative approval where there are no surprises at the end,” says Saoud.
Brokers who use the tool are seen as a trusted source of information by clients. This frequently leads to deeper conversations with clients about their goals, so brokers can ensure the solution they put forward supports the customer into future.
“People have had their businesses closed, their employment interrupted, cash flow reductions and savings patterns interrupted, bringing a need for specialist lending to people that may not have ever considered it necessary in the past”
Barry Saoud, Pepper Money
Pepper Money plans to expand its tech investment in specialist lending.
“We’re investing in our digital capabilities and new products to better meet the needs of this category across the next 12 months,” says Saoud.
“Not only will this reinforce our market-leading turnaround times, but it will allow for a more seamless approach between the customer, broker and us as the lender.”
He thinks the year ahead will see demand for specialist lending solidify.
“As rates shift upwards, we’re expecting sharper borrower demand for greater loan options and flexibility,” says Saoud.
Grow Finance co-CEOs David Verschoor and Greg Woszczalski expect to see steady demand from businesses for alternative working capital products.
“There will be sustained demand for alternative working capital products to boost growth, particularly asset finance, invoice finance, and trade finance facilities to offset supply chain disruption,” they say.
Grow’s focus is on delivering disruptive products, including product extensions, enhancements and fusions that reduce cash flow pressures in a volatile market.
Grow’s most recent announcements include a new low-doc refinance facility that enables SMEs to access up to $150,000 to refinance balloon payments on cars, vans or utes for up to five years with minimal financial information; an extension of its business loan into primary agriculture; and increases in its Tier 3 Specialised Asset Low Doc product limit from $75,000 to $150,000 and its Easy Doc product limit from $150,000 to $250,000.
Verschoor and Woszczalski say demand has been high for asset finance for trucks, trailers, and materials handling. In addition, more SMEs are seeking to hedge against supply chain disruption by placing orders earlier and making larger orders to keep a comfortable buffer of stock on hand locally.
Other key trends identified by Grow include a sharp rise in fit-outs to accommodate increased patronage as COVID restrictions ease, and a spike in home renovations that correlate with the widespread acceptance of the hybrid work-from-home model.
Businesses are also refurbishing or purchasing new or used equipment as confidence increases and operations are adjusted to meet post-pandemic norms. In addition, many businesses are seeking to refinance debt to reduce cash flow pressures.
There is also a notable increase in funding to support M&A activity for businesses keen to bypass organic growth.
“There will be sustained demand for alternative working capital products to boost growth, particularly asset finance, invoice finance, and trade finance facilities to offset supply chain disruption”
David Verschoor and Greg Woszczalski, Grow Finance
One of the difficulties brokers have had in the rapidly changing market is keeping up not only with business needs but also the huge number of lenders and their associated products. Grow addresses this challenge by being a ‘one-stop shop’ for asset finance and working capital solutions that enable SMEs greater access to aligned finance facilities.
Many brokers are keen to diversify into commercial but are not sure where to start. The non-bank lender gets around this bottleneck through its nationwide network of BDMs.
Grow will generally recommend an aligned finance solution to a particular situation, removing the need for brokers to be across the nuances of each asset finance or working capital facility. Its platform also auto-prompts which cross-selling opportunities are aligned with the business client’s profile.
“The company will continue to progressively launch new products, extensions and enhancements throughout the year,” say Verschoor and Woszczalski.
9.9%
9.6%
9.7%
2017
Source: OECD Labour Force Statistics
Self-employment rate in Australia, 2017–20
9.4%
2018
2019
2020
“We work with brokers to achieve the desired outcome, leveraging off the significant experience we have in our 200-strong credit team,” says Bannister.
“If something does come up during the process that the broker is not familiar with, we can help them through it, educating them along the way.”
Providing flexibility to customers is also important to Liberty but will become even more so as the economy opens up.
“We anticipate more customers will be looking for alternative and flexible ways to manage their finances, or for better ways to tackle existing debt,” says group sales manager John Mohnacheff.
“For brokers, these kinds of scenarios provide a real opportunity to help people in meaningful ways.”
The need for greater flexibility stems both from the economy bouncing back from COVID-19, and from possible negative factors such as rising interest rates, geopolitics, or further natural disasters.
“Specialist lenders like Liberty are well suited to providing credit throughout these periods of change and uncertainty, thanks to the custom nature of our assessment methods,” says Mohnacheff.
As a leading Australian non-bank lender, Liberty offers innovative solutions at competitive prices to support customers with greater choice. Over the past 24 years, this free-thinking approach to loan solutions has seen more than 600,000 customers get finance across a wide range of home, car, personal and business loans, as well as SMSF lending and insurance products. Liberty remains the only non-bank lender with an investment-grade credit rating offering custom and prime solutions to help more people get finance.
Find out more
Liberty has a long history of thinking outside the box in this area, having offered specialist loans for almost 25 years. It has flexible solutions for home, car, business, personal, as well as commercial and SMSF loans.
For customers that may not fit the cookie-cutter requirements of a major lender, the chances are that Liberty can provide an alternative. Its product range aims to fill a gap in the market and provide tailored solutions with flexible LVRs.
“We recognise that every customer situation is unique, and assess each application on a case-by-case basis to ensure we get the full picture,” says Mohnacheff.
“Whether a customer has historical credit issues, non-standard income or simply does things differently, together with brokers we help them find their best fit.”
Overstating the complexity of specialist lending is a long-standing issue in the market, despite the need for a more personalised approach being its biggest difference. Liberty demonstrates this by tailoring the loan product to match the customer, rather than trying to make the customer’s circumstances match the loan product.
Self-employed borrowers are one example of the type of customer that non-bank lenders are suited to helping.
“Non-bank lenders have traditionally offered more flexible solutions and cater to a more diverse pool of customers,” says Mohnacheff.
Demand for specialist loans, including from first home buyers, has increased since the tightening of bank acceptance criteria. This makes knowledge of specialist lending an important tool for brokers. To help broaden their understanding, Liberty offers brokers direct access to its credit team and actively helps newcomers.
“We’re dedicated to supporting brokers to learn about the opportunities available,” says Mohnacheff.
“With the largest BDM team of all non-banks, Liberty is eager to assist any broker through their loan scenario and answer any questions.”
There is an image that non-bank lenders are the option of choice for borrowers who have had a ‘life event’, but the shift towards atypical incomes is also pushing customers to non-bank lenders.
Saoud says anybody from an NRL player to a self-employed tradie would fit into this category.
“The more these jobs and roles evolve, the more a non-bank such as Pepper Money will come to the forefront of enabling a solution for them.”
Pepper Money partners with aggregators to provide tools, resources, training, and targeted education events to assist brokers with offering specialist solutions. It also has a vast local BDM presence dedicated to helping brokers with scenarios and broadening business opportunities.
Borrowers are looking for someone to take the time to understand their circumstances and show that they genuinely want to help them succeed, says Saoud.
The non-bank's key tool for brokers is the Pepper Product Selector, which allows them to use client information to receive an indicative offer in just a couple of minutes.
“Transparency is key, offering customers an indicative approval where there are no surprises at the end,” says Saoud.
“People have had their businesses closed, their employment interrupted, cash flow reductions and savings patterns interrupted, bringing a need for specialist lending to people that may not have ever considered it necessary in the past”
BARRY SAOUD,
PEPPER MONEY
Grow’s most recent announcements include a new low-doc refinance facility that enables SMEs to access up to $150,000 to refinance balloon payments on cars, vans or utes for up to five years with minimal financial information; an extension of its business loan into primary agriculture; and increases in its Tier 3 Specialised Asset Low Doc product limit from $75,000 to $150,000 and its Easy Doc product limit from $150,000 to $250,000.
“We work with brokers to achieve the desired outcome, leveraging off the significant experience we have in our 200-strong credit team,” says Bannister.
“If something does come up during the process that the broker is not familiar with, we can help them through it, educating them along the way.”
David Verschoor and Greg Woszczalski are co-chief executives at Grow Finance (Grow). Verschoor is a seasoned finance professional with broad knowledge of risk management, regulatory compliance and trading. He has extensive experience in credit underwriting and policy formulation, as well as the provision of strategic advisory, and has held previous roles at Westpac and BNP Paribas. Woszczalski has worked for over 20 years across many business sectors, structuring and implementing cash flow solutions and consulting on company restructures. He is a former board member of the Debtor and Invoice Finance Association and co-founder and executive director of 180 Group.
Grow Finance
David Verschoor and Greg Woszczalski
Barry Saoud joined Pepper Money in July 2021 as general manager, mortgages and commercial lending and is responsible for its strategic direction and operating performance across product, credit and settlements sales functions for Australia and New Zealand mortgages, commercial loans, personal loans and direct sales. With over two decades’ experience in financial services, Saoud has held numerous roles across legal, company secretary, sales and product management with the likes of Aussie Home Loans, GE Capital, HSBC and Norton Rose Fulbright. He is a passionate leader with proven ability to grow businesses and exceed targets through innovative strategy and effective execution.
Pepper Money
Barry Saoud
Cory Bannister is senior vice president and chief lending officer at La Trobe Financial. He has a rich understanding of both the loan origination process via the third party channel, and the approval and settlement of institutional and retail loans. Bannister’s portfolio management experience extends to the selection and allocation of assets for multiple wholesale mortgage portfolios in excess of $1bn. He has been responsible for the management, review, risk profiling and audit of wholesale asset pools, and had conduct of the relationships with substantial wholesale and retail investors and responsibility for overseeing related reporting.
La Trobe Financial
Cory Bannister
John Mohnacheff is Liberty's ebullient and charismatic group sales manager. With over 30 years of insurance, banking and finance experience, he is committed to improving the sales habits and disciplines of the entire Group Sales team. Before joining Liberty, Mohnacheff held executive roles at Westpac and Bank of Melbourne. He has a Bachelor of Business degree and a Master’s in Marketing from the University of New England, as well as a Postgraduate Diploma in Organisational Behaviour from the University of NSW.
Liberty
John Mohnacheff
David Verschoor and Greg Woszczalski are co-chief executives at Grow Finance (Grow). Verschoor is a seasoned finance professional with broad knowledge of risk management, regulatory compliance and trading. He has extensive experience in credit underwriting and policy formulation, as well as the provision of strategic advisory, and has held previous roles at Westpac and BNP Paribas. Woszczalski has worked for over 20 years across many business sectors, structuring and implementing cash flow solutions and consulting on company restructures. He is a former board member of the Debtor and Invoice Finance Association and co-founder and executive director of 180 Group.
Grow Finance
David Verschoor and Greg Woszczalski
Barry Saoud joined Pepper Money in July 2021 as general manager, mortgages and commercial lending and is responsible for its strategic direction and operating performance across product, credit and settlements sales functions for Australia and New Zealand mortgages, commercial loans, personal loans and direct sales. With over two decades’ experience in financial services, Saoud has held numerous roles across legal, company secretary, sales and product management with the likes of Aussie Home Loans, GE Capital, HSBC and Norton Rose Fulbright. He is a passionate leader with proven ability to grow businesses and exceed targets through innovative strategy and effective execution.
Pepper Money
Barry Saoud
John Mohnacheff is Liberty's ebullient and charismatic group sales manager. With over 30 years of insurance, banking and finance experience, he is committed to improving the sales habits and disciplines of the entire Group Sales team. Before joining Liberty, Mohnacheff held executive roles at Westpac and Bank of Melbourne. He has a Bachelor of Business degree and a Master’s in Marketing from the University of New England, as well as a Postgraduate Diploma in Organisational Behaviour from the University of NSW.
Liberty
John Mohnacheff
Cory Bannister is senior vice president and chief lending officer at La Trobe Financial. He has a rich understanding of both the loan origination process via the third party channel, and the approval and settlement of institutional and retail loans. Bannister’s portfolio management experience extends to the selection and allocation of assets for multiple wholesale mortgage portfolios in excess of $1bn. He has been responsible for the management, review, risk profiling and audit of wholesale asset pools, and had conduct of the relationships with substantial wholesale and retail investors and responsibility for overseeing related reporting.
La Trobe Financial
Cory Bannister