(30 November 2010 – Australia) Vow Financial announced today that Jeff Zulman will step down from his position as chief executive at the end of 2010 and be replaced by Macquarie Banker, Tim Brown.Mr Zulman was engaged in mid 2009 to assist the founders to develop a merger concept for mortgage aggregators, facilitated the merger and served as the incumbent chief executive to guide and implement the early stages of the merged entity – Vow Financial.
Vow chairman Dr Peter Neustadt said in a statement that the directors of the group were very grateful for Jeff’s contribution over the past 18 months in assisting to realise the concept of a merged group of mortgage aggregators.
“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,” Dr Neustadt said.
“These include our training joint ventures with Kaplan Financial and AAMC under the industry leading ‘Ascent’ broker development program; launching our Pinnacle Club and V Growth points reward scheme for brokers; evaluating acquisition opportunities and finally utilising his IT background to select and help architect our new ‘Alice’ IT platform,” Dr Neustadt added.
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 board has now appointed Tim Brown from to serve as new CEO of Vow Financial from January 2011 onwards. After five years with Macquarie Bank Tim Brown has resigned from all his positions at MBL to take up his new position at Vow Financial.
“It is a great achievement for Vow and an endorsement of our business concept to have been able to convince Mr Brown to accept the position of CEO of Vow,” Dr Neustadt highlighted.
Mr Brown brings tremendous experience and knowledge of this industry. His impressive record of nearly 30 years in marketing and sales related positions in the mortgage and general finance industry have made him the stand out candidate to build on the foundation laid, Dr Neustadt added.