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One new director and two former directors have been appointed to the board of the Mortgage & Finance Association of Australia.
Following a nomination and election process, the MFAA has now welcomed to the board Scott Bolton, a franchise principal for Aussie Home Loans in Manuka, ACT.
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Having worked in the industry for more than 10 years, Mr Bolton has been a director of his own company for 25 years and has experience in New Zealand, Singapore, Malaysia and South Africa. As well as being a franchise principal for Aussie Home Loans in Manuka, ACT, Mr Bolton is also president of the local ACT business network group.
MFAA chairman Cynthia Grisbrook said the MFAA was pleased with the “skills and experience” Mr Bolton brings to the MFAA board.
Ms Grisbrook said: “We're delighted to welcome Scott to the board. Having run his own businesses, as well as franchise operations for Wizard and Aussie, he has a breadth and depth of experience that will add significant capability as a director.
“Scott also served as an MFAA NSW/ACT Counsellor from 2009-14, which further enhanced his knowledge of compliance, regulatory issues and ASIC requirements.”
As well as the appointment of Mr Bolton, two MFAA directors have been re-elected to the board. Oxygen Home Loans broker Donna Beazley, and Mortgage Choice’s head of compliance Tim Donahoo, will now take on new terms as directors of the board.
Touching on the re-appointments of Ms Beazley and Mr Donahoo, Ms Grisbrook said she “couldn't be happier that Donna and Tim will be remaining on the board for another term” adding that their re-election was a “vote of confidence expressed by members”.
She added: “As directors, they provide us more than 50 years' combined experience. They will be a critical part of the sustained success of the MFAA and our industry in the future.”
Ms Beazley has more than 20 years' experience in the finance industry and is a member of the FARM and aggregator committees that report to the MFAA board, while Mr Donahoo is a member of the FARM committee and is liaison director for the Forum of State Presidents and the Compliance Forum.
The MFAA has said that the director appointments will be confirmed at the MFAA annual general meeting later today (23 November), but it wanted to announced the appointments early to inform “the industry and to members who cannot attend the AGM”.
The appointments of the board come following a general change in leadership at the MFAA, including the announcement that Mike Felton will become CEO of the industry association on 5 December.
[Related: Brokers slam MFAA performance]
