YBR CEO steps down following restructure

Yellow Brick Road Holdings (YBR) has announced to the ASX that it will restructure to "a much simpler offering" by disposing of its wealth business and focusing instead on mortgage distribution, servicing and manufacturing.

As a result, Frank Ganis will step down as CEO and move into a part-time consulting role with the group, leaving executive chair Mark Bouris to oversee the transition of YBR to its new "streamlined business structure."

Ganis joined the board of YBR in August 2017, before stepping down in January 2018 to move into an advisory role. He was appointed CEO in October 2018.

Before joining YBR, Ganis was an executive director at Macquarie Group, where he co-founded Macquarie's mortgages and securitisation business in the early 1990s and, according to YBR, was "instrumental in building the mortgage securitisation sector in Australia".