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Southern Cross names new CEO

Peer-to-peer lender Southern Cross Partners has appointed a new chief executive from outside of the financial services industry as it looks to grow its loan book.

Friday, August 9th 2019, 8:43AM

Cliff Carr

Cliff Carr joins from home appliances company Newell Brands, best-known for its Sunbeam kettles and toasters.

Carr was formerly general manager of sales and marketing at Newell Brands New Zealand, and says his experience in the customer-goods industry will be valuable as Southern Cross looks to grow its lending business and P2P offering over the next few years. Part of that effort will be raising awareness with consumers.

“I’ve had a strong interest in residential property lending for some time, and this business has core appeal with P2P investing and non-bank lending,” Carr said. “It’s a very sound business that has been around for a long time, and I’ll be working with some skilled directors who all have an appetite for growth,” Carr told TMM Online.

Carr replaces Luke Jackson, the former Southern Cross boss who switched over to non-bank lender Resimac earlier this year.

“It’s an appealing market as banks become stricter and open up opportunities for non-banks,” Carr added. “We want to grow the two parts of the business in parallel and believe there’s room for major growth.”

Carr said the company's immediate focus would be on improving back-office systems. He wants to grow the existing loan book in an “aggressive, but incremental way”, and will explore new product lines.

He said advisers would remain a key focus for the firm. 

“We’re open and have money to lend, and we need to explore a way of engaging with them [advisers] better, and we will certainly look to do that. We have got some strong growth aspirations and will be looking to work with them to grow both our [respective] businesses.”

 

Tags: non-bank lenders non-disclosure Peer to Peer Lending Southern Cross

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank ▼5.20 ▲4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▲3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.45 3.89
Sovereign 5.30 ▼3.89 ▼4.05 ▼4.39
Sovereign Special - ▼3.39 ▼3.55 ▼3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.45 3.99
Median 5.34 3.99 4.07 4.39

Last updated: 9 December 2019 9:02am

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