YBR names new CEO

Yellow Brick Road (YBR) has announced the appointment of Frank Ganis as the firm's new chief executive officer.

Ganis joined the board of YBR in August 2017, before stepping down in January 2018 to move into an advisory role with the firm.

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".

As CEO, YBR said that "Ganis will play a key role in the finalisation and roll out of YBR's own self-funding securitisation programme" which has been announced as a key strategic objective by executive chair, Mark Bouris.

Commenting on Ganis' appointment, Bouris said: "I am very excited to have Frank Ganis join us as CEO. We are both great believers in the unrivalled quality of our distribution network, great believers in building lower cost and more efficient structures, and of course we both share the same vision around launching our own securitised product."

Ganis added that he is "delighted to accept the position" and is eager to "hit the ground running in rolling out the Group's vision, particularly in expanding [the] product offering, creating new revenue streams and achieving cost efficiencies". He also said he was determined to give YBR's "network what they want to succeed" and "to support them to serve their clients".