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Australian Loan Company has announced a major new appointment as it looks to “keep up" with its rivals.
Kevin Frost has joined Australian Loan Company as general manager of sales & marketing after previous roles at eChoice, Ballast and MKM Capital.
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Mr Frost’s appointment shows Australian Loan Company’s commitment to growth, according to Bob Dodd, chief executive of parent company Centrepoint Alliance.
Mr Dodd said Australian Loan Company “has not been keeping up with industry pace” over recent years.
“As a non-institutionally owned alternate to the bank-owned or part-institutionally owned players, we believe we are in a good position to offer a bespoke service to brokers by enhancing their experience with education and training and a personalised, consistent and reliable service,” he said.
“We have continued to invest in our broker systems and have formed a joint board with broker representatives to ensure we deliver added value and productivity gains.”
Centrepoint reported a $3.3 million net profit for the 12 months to 30 June 2014, following a $7.8 million loss the previous year.
Australian Loan Company’s pre-tax profit held steady at $200,000.
The group’s funding division, which includes Australian Loan Company, experienced a 20.9 per cent increase in loan volumes to $445 million.
Centrepoint said “a range of product extension opportunities exist” in mortgage broking.
[Related: Centrepoint share price rises 49pc]
