This article is from the Australian Property Journal archive
NON-bank lender Resimac Group has announced that recently hired chief strategy, products and operating officer Pete Lirantzis will be its new CEO.
Lirantzis, who joined Resimac in February, will take the reins of the top role in the first half of 2025.
He will take over from Susan Hansen who will step down as interim CEO after the expected completion of the migration of the Westpac Auto Back Book in the first half of 2025 calendar year.
Resimac acquired the book early in October.
Resimac’s chair, Wayne Spanner, said Lirantzis’ strong focus on brokers, quality customer care, and solution orientated approach were key attributes that the board considered essential in taking the business forward.
“With considerable experience in digital transformation and modernisation across the finance sector, Pete has already made his mark on the business and will continue to do so as we build sustainable growth.”
Hansen said she was delighted to be handing over to Lirantzis in the near future.
“Since joining Resimac, Pete has demonstrated exceptional skills in articulating and executing a strategy that aligns with the board’s ambition,” she said.
Hansen will continue on the Board of Resimac.
Lirantzis said, “My focus will be on achieving sustainable growth and improving efficiencies. I am committed to ensuring we remain competitive while evolving our offerings to meet the changing needs of our valued customers.
“As we chart this path forward, I am both confident and humbled by the trust the board has placed in me. I look forward to working alongside our talented team to achieve the shared vision that will drive our success.”
Resimac reported a normalised net profit after tax of $43.1 million for FY24, down 42% year-on-year and a statutory net profit after tax of $34.8 million, down 47%, due to challenging macroeconomic conditions and rising funding costs.
The group’s originations rose by 21% to $5.1 billion, but its home loans book decreased by 1.9% to $12.9 billion.
