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REA Group has unveiled new changes to its organisational structure as part of its long-term growth strategy to “build next-generation marketplaces”.
As part of the restructuring, Mortgage Choice interim chief executive Anthony Waldron has been named as CEO, financial services and Mortgage Choice. He will also join REA’s executive leadership team.
Mr Waldron has over 25 years of experience in financial services, mortgage broking and business development, according to the group.
Before joining REA’s ranks, Mr Waldron was an executive with NAB, where he was an executive for data, analytics and strategic execution, after being acting chief customer officer for consumer banking.
Adding to his work experience, Mr Waldron had also been executive general manager for broker relationships.
Mr Waldron will take over the position of Janelle Hopkins, who has led the growth of the financial services businesses over the past three years, the group stated.
Notably, Ms Hopkins spearheaded the successful acquisition of Mortgage Choice and its integration with Smartline, in addition to her responsibilities as chief financial officer of the group.
REA Group CEO Owen Wilson said the organisational restructuring is an important step in simplifying and aligning its structure to the group’s growth agenda.
“Our consumer, customer and data marketplaces are becoming more interdependent than ever, underpinned by Australia’s largest and most engaged audience of property seekers.
“To unlock the full potential of the group our new structure enables us to fully leverage our scale and the increasing connectivity of our growing marketplaces,” Mr Wilson said.
The CEO also underlined that its financial services arm is a “core pillar” of REA’s strategy.
“Anthony will lead the next phase of growth and innovation within our mortgage broking and digital direct lending businesses,” Mr Wilson said.
“He brings significant experience having led NAB’s presence in the mortgage and finance broking market.”
In addition to adding new blood to its financial services department, the group also announced PropTrack CEO Melina Cruickshank would lead a newly combined product and audience group segment as chief product and audience officer.
Under her new role, Ms Cruickshank will oversee consumer product, audience and marketing and PropTrack.
Ms Cruickshank has been with REA for three years and has previously helmed the product, marketing, content and tech teams.
“REA has achieved unrivalled scale with realestate.com.au, the clear number one address for property, and the sixth largest online brand in Australia,” Mr Wilson said.
“This large and engaged audience is critical in driving our business, and the connection of the product, marketing and data portfolios will put us in a strong position to deliver our next phase of growth.”
The restructuring, which will be effective on 1 July 2022, has also led to notable exits and changes in responsibilities within the group’s top brass.
As a result of the product and marketing portfolios being consolidated, REA’s chief consumer product officer Val Brown is set to leave the business after 13 years.
Under the new structure, chief people officer Mary Lemonis will formally expand her responsibilities as chief of people and sustainability.
Meanwhile, Henry Ruiz will continue to lead strategy and the recently launched property.com.au site as chief strategy officer and CEO, REAx.
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