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Non-bank lender Pepper Money has announced two new appointments as it continues to expand its commercial real estate business.
The non-bank lender has announced that Luke Goaley and Jeremy Sibberas have joined the commercial real estate team as business development managers (BDMs), tasked with driving Pepper Money’s commercial real estate (CRE) business.
The lender recently launched its new commercial offering through the broker channel and it is aimed at the “significantly underserved” segment of CRE loans for SMEs, up to the value of $3 million.
The segment is reportedly worth in excess of $11 billion per annum and is a space where existing lenders traditionally do not play in.
Working closely with the head of commercial lending Malcolm Withers, Mr Goaley will focus on supporting the New South Wales, Queensland and Western Australia markets, while Mr Sibberas will be responsible for Victoria, Tasmania and South Australia.
Speaking of the new appointments, Mr Withers said: “We are working hard to ensure brokers and their clients receive strong support and high service levels that have become Pepper’s trademark.
“We understand the emotional rollercoaster ride that many borrowers face while seeking property loans, and we do our best to make things as simple and stress-free as possible.
“As part of this focus, it’s vital to have the right people on board, and I’m delighted that Luke Goaley and Jeremy Sibberas have agreed to join our dynamic commercial team.”
Mr Withers said he was pleased to welcome the “impressive individuals” to the team.
Mr Goaley has previous experience as a BDM at St.George Bank, and was a credit analyst for the bank prior to this. He also has experience at Ulster Bank in Ireland as a debt restructuring analyst and BDM.
Mr Goaley said he was “immediately drawn” to the new commercial lending team at Pepper and its “entrepreneurial approach to business and open mindedness in finding solutions for customers”, he said.
Mr Sibberas joins the non-bank lender after working as a corporate and commercial senior BDM and business banking relationship manager at Westpac. He previously held a similar position at NAB.
“Having worked with Malcolm in the past, I know him to be highly regarded within the industry and I see him as a mentor, and so the opportunity to work under his leadership was too good to pass up,” Mr Sibberas said.
“Post [banking] royal commission, I’ve noticed increasingly how brokers are becoming closer to their clients and, while the big four banks continue to struggle with the basics (like speed to market), I see a real opportunity for Pepper to grow substantially meeting the changing needs of this important third-party segment,” he added.
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