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Yellow Brick Road’s Mark Bouris is gearing up for round two with Australia’s majors, announcing that his wealth group may apply for a banking licence.
According to an article in The Australian Financial Review, Mr Bouris hopes to grow the company’s footprint, the company’s brand and then look to become an Authorised Deposit-taking Institution.
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Mr Bouris said his aim was to build the company to 150 branches by the end of December 2012 – a move that would effectively triple Yellow Brick Road’s current network.
But the company doesn’t just have bullish growth plans.
Mr Bouris told the paper that Yellow Brick Road would also look to launch a new suite of mortgage products over the coming weeks and months.
