PEXA has hired a former Westpac executive as its group chief operating officer.
Les Vance would join PEXA in October from Westpac where he was group executive, financial compliance and conduct.
This involved being responsible for remediation and transformation of its management of financial crime which was required under an enforceable undertaking by the Australian Prudential Regulation Authority (APRA).
He had also held roles including chief operating officer at Westpac’s consumer division and chief risk officer at BT Financial Group and had over 20 years’ experience.
At PEXA, he would be responsible for the enablement of a regulatory environment that reflected PEXA’s commitment to consumers and community, extending through to the Group’s legal function as well as product, pricing, enterprise governance and delivery.
He would be supported by PEXA’s current chief operating officer, Simon Smith, who was stepping into an advisory role.
PEXA group managing director, Glenn King, said: “Les is an incredibly credentialed executive, having worked in several senior roles across risk, transformation, legal, operations, investments and business partnering. Having also worked across both the banking and legal sector, he is a tremendous fit for our business.”
Vance said: “PEXA has fundamentally transformed the way property transactions are settled across Australia. I’m excited by the opportunity to be part of building on that and delivering the growth from this next phase of PEXA’s strategy.”