Announcement of new Chairman

June 20, 2017

Mortgage Choice is pleased to announce that Vicki Allen has been appointed a Director of Mortgage Choice and she will succeed Peter Ritchie as Chairman upon his retirement on 1 July 2017.

Peter Ritchie, who first announced his intended retirement at the Company's AGM in October 2016, will officially retire from the Board next month after more than 13 years with the business.

With a background in financial services and property investment, Ms Allen will bring a wealth of experience to the role.

Ms Allen is currently a non-executive director of Mirvac Funds Management Limited, Bennelong Funds Management Limited and the BT Funds Board.

Speaking about her appointment, Ms Allen said she was pleased to be joining such a strong, long-standing and reputable organisation.

“This year, Mortgage Choice celebrates its 25th birthday. The company was one of the original mortgage brokers in Australia and remains one of the pre-eminent brands within the marketplace,” she said.

“I am excited and honoured to have the opportunity to work alongside both the Board and the executive team to continue to deliver positive results for the company.

Mortgage Choice chief executive officer John Flavell welcomed Ms Allen to the role and thanked Peter Ritchie for his invaluable contribution to Mortgage Choice.

Mr Flavell said Mr Ritchie would be greatly missed when he officially retires on 1 July 2017.

“Peter joined Mortgage Choice in 2004, and throughout the years he has helped the business transform from a mortgage broker, to an ASX300, fully-fledged financial services company that has cemented itself as one of Australia's most loved financial services brands,” Mr Flavell said.

“Peter's dedication and commitment has proven invaluable to Mortgage Choice. I know I speak on behalf of the Board, the executive team, and the network when I say that Peter will be missed. He has left an indelible mark on the company and I want to take this chance to thank him for his advocacy, his endless professionalism and his ongoing commitment to the business.”

Speaking about his retirement, Mr Ritchie said he was honoured to have been a part of the Mortgage Choice business for the past 13 years.

“Mortgage Choice continues to evolve and build its capability to deliver a broad range of financial services to customers,” he said.

“Whether customers wish to interact with a mortgage broker online, over the telephone, face to face, or a combination of all three, Mortgage Choice is well positioned to do just that.

“I am honoured to have been a part of this tremendous business. The integrity at the heart of the Mortgage Choice organisation is second to none, and I look forward to watching this company from the sidelines as it continues to evolve and further cater to the growing needs of its customers.”

Looking ahead, Mr Ritchie said he was pleased to be ‘passing the torch' to Ms Allen.

“Vicki Allen's wealth of experience means she is ideally placed to lead Mortgage Choice to further growth in the financial services sector.

“Together with the Board and the executive team, I know Vicki will help Mortgage Choice to grow, evolve and prosper.”