Andrew Scott has stepped in to head up Newpark, following the departure of its CEO Melanie Purdey who resigned from the firm in the first week of March.
Scott, who was the firm’s General Manager Home Loans, is now overseeing the whole business.
“We won’t be going down the path of having a CEO for the time being,” says Scott while confirming his new job title as General Manager Newpark.
“My old title of GM Home loans will just become GM Newpark,” he says. “We also have a newly-enhanced and bolstered board of directors.
“The board is newly-energised, we have some great new additions, who have quite a lot of industry expertise and experience. And we have some very firm ideas on where the business is heading.”
New additions to the board include Bernard McCrea as Independent Board Chairman.
McCrea has been in the insurance industry for more than 25 years, previously heading up AIA, and is chairman of the Rosebank Business Association.
Naveed Balouch, who runs his own advisory business, has joined the board as an independent director.
Among the firm’s announcements to the 200 or so advisers attending its roadshows in Auckland and Hamilton last week include an exclusive arrangement with a real estate firm and the introduction of digital technology to legally identify the people it is doing business with.
Scott says Newpark wants to help advisers stay ahead of money laundering laws that currently apply to the likes of real estate agents, solicitors and banks.
Newpark is working with Real Estate Together, a firm run by Auckland real estate identity Martin Dunn.
The arrangement involves Newpark marketing Real Estate Together’s shared-ownership property scheme that allows people to part-own properties.
Scott says Newpark Home Loans received a transitional FAP licence from the FMA last week.
He says: “This is hugely positive because I believe it will make us the first group to have got a transitional licence. I am thrilled to bits, it is full steam ahead for us.”