Non-bank lender appoints new head of distribution

Non-bank lender Bridgit has announced that Stephen Doyle, the former director of growth at Loan Market Group, has joined Bridgit as its new head of distribution.

The Sydney-based lender, who specialises in bridging loans, has been operating since 2021 and has so far processed over $1 billion in loan applications. 

In his new role, Mr Doyle will be responsible for building Bridgit’s broker offering and business development management team.

Aaron Bassin, CEO and co-founder of Bridgit, said he was thrilled to welcome Doyle to the Bridgit team.

“Stephen’s previous extensive experience and his expertise in building relationships and teams will be a great asset to the next stage of growth for the company,” he stated.

Bridgit said the new appointment would build on its broker offering and network, with Mr Doyle using his previous experience to engage aggregators and strengthen their offering as he has done so previously for over two decades. 

Indeed, of Mr Doyle’s 25 years of experience in the sector, 20 of it were spent in aggregators and focused on company growth.

Prior to his newest role, he had spent over two years as the director for growth at Loan Market Group, where he reportedly helped grow the broker channel by 50 percent and facilitated stronger team management and recruitment processes. 

Before that, he was the national sales manager at NAB and oversaw a national channel of 4,500 brokers for an insurance product.

He was also the state director (NSW/ACT) at Australian Finance Group (AFG). Starting in 2010, Mr Doyle saw AFG’s property settlements from $3 billion to $12 billion during his time there.

The new head of distribution said he was hoping to channel his previous skills working with brokers and aggregators “to further propel Bridgit”, which offers online loan applications with same day approval and a three-month, interest-free period. 

The bridging loans allow customers to secure their next home before selling their existing property.

“Previously, there was a huge gap in this market, which Bridgit is now fulfilling,” Mr Doyle said. 

“I am excited to be joining Bridgit at this pivotal growth stage of the business. There is a huge opportunity for Bridgit to revolutionise bridging finance with their simple, tech-driven solution for customers and to help mortgage brokers provide clients with an option so they can secure their next home before selling their existing property.”

“I look forward to building relationships with my new colleagues and fostering those with my fellow industry professionals,” he noted.

[Related: Non-banks to rise through rate hikes: Bridgit]