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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.
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.
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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.
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