Vow Financial has announced that Jeff Zulman will step down as chief executive at the end of 2010 and be replaced by former Macquarie Bank senior executive Tim Brown.
He joins Vow after a five year stint at Macquarie, most recently as head of retail broker sales. Brown has also held positions at LJ Hooker Home Loans, Suncorp, Aussie Home Loans and AVCO (now GE Finance).
"Tim comes with tremendous experience and knowledge of this industry," Vow chairman Peter Neustadt said.
"His impressive record of nearly 30 years in marketing and sales-related positions in the mortgage and general finance industry have made him the standout candidate to build on the foundation laid."
Neustadt said Zulman, who will continue to do some consulting for Vow, had played a significant role in merging the National Brokers Group, The Mortgage Professionals and The Brokerage to create Vow Financial over the last 18 months.
"A significant amount of work was done since the merger took place, addressing all aspects of our business - changing the organisation of the three companies, introducing new branding, marketing concepts, and new initiatives to benefit our brokers," Neustadt said.
"By the end of 2010 the foundations for most of Vow Financial's future will be largely in place, allowing Vow to become a significant entity, not just as one of the largest national mortgage aggregators, but also as a modern, dynamic, and broad-based financial services company," the group said.
Macquarie Bank holds a minority stake in Vow.
