Non-bank founder passes

Mr Timothy Holmes was a founding director of Homeloans Ltd.

Mr Holmes and fellow industry entrepreneur Rob Salmon established International Financing & Investment Pty Ltd, and then IF&I Securities Pty Ltd in 1990, which became the predecessor to Homeloans Ltd.

Homeloans Ltd listed on the Australian Stock Exchange on 19 March 2001.

Mr Holmes had been Chairman of Homeloans since 2003.

"Tim Holmes was a giant in the mortgage industry” Rob Salmon said.

“He had a true passion for the business, was a great communicator and an inspiration to so many people who have worked in our company over the past 30 years,” he said.

Mr Holmes is survived by his wife Carol, his three daughters Joanna, Tiffany, Lucy and their families, including five grandchildren and his sister, Penny.

A non-executive director of the company, Robert Scott, has been appointed chairman of Homeloans Limited.