Lender reshuffles executive team

Bluestone has announced that it has made changes to its executive team to “reflect the evolving needs of [the] business” as it expands its offering and reach in the Australian and New Zealand markets. 

As part of the reshuffle, Bluestone’s general manager, Tim Miller, has moved into the role of chief operating officer, and will be responsible for all operational departments at Bluestone.

The former COO, Peter Wood, has been re-appointed as managing director, New Zealand, following growth in that business since its relaunch in December 2017.

Bluestone CEO Campbell Smyth commented: “The recent changes in our executive team reflect the evolving needs of our business as we expand our offering and reach in the Australian and New Zealand markets.

”Within our new leadership setup, we combine the specialist insight derived from decades of industry experience with the strategic acumen necessary to successfully navigate changing markets and secure the long-term success of our business.”

New CFO appointed

As well as the changes to the executive team, the non-bank has also appointed a new chief financial officer.

Todd Lawler, Pepper Money’s former group treasurer and executive director, has now become Bluestone’s CFO. 

Mr Lawler takes over the role from Mark Donovan and will oversee the finance, treasury, credit, and legal, risk and compliance functions of Bluestone with “a view to build the high-quality financial infrastructure and lending program necessary to maintain its strong growth”.

Mr Donovan will remain with the company in the role of finance director. 

The Bluestone CEO welcomed Mr Lawler to the team, noting his 30 years of experience in the finance industry (including 18 years as a Chartered Accountant) and his history of overseeing and developing non-conforming lending across the US, Europe, Central America and Australia.

Mr Smyth commented: “We are absolutely delighted to welcome Todd to the team. His deep expertise in both the accounting and funding functions of the non-bank sector means he is uniquely qualified to steer the financial operations of the business as it continues on its current growth trajectory.”

Likewise, Mr Lawler said it was an “exciting time” to be joining Bluestone as it is “perfectly primed to take advantage of current market conditions”.

The new CFO added: “Its recent acquisition by Cerberus Capital Management means the business has the capital and capacity to be a key challenger in the non-bank sector and develop its offerings to meet the needs of even more Australian and New Zealand borrowers.”

[Related: Non-bank issues new $350m RMBS]