Mortgage Choice reshuffle
Mortgage Choice will be ‘restructuring’ a number of its senior management roles, with current staff to be replaced as part of a “cost savings exercise”.
The following positions will be affected by the changes: head of marketing, national corporate affairs manager, training manager, national recruitment manager and company secretary.
The estimated full year impact of the changes in 2009-10 is a cost saving of $1.2 million, while the 2008-09 impact sits at $600,000.
Managing director Paul Lahiff said: “The company has always regarded cost management as a critical aspect of its operations and this removal of an effective layer of management is a further example of this.”
A number of financial services groups have sought to increase their holdings in the Mortgage Choice recently. Count Financial lifted its stake in Mortgage Choice to 15.2 per cent earlier this month, while the Commonwealth Bank has also indicated an interest in the company.
AUTHOR
George Liondis
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