Coreco managing director Matt Lowndes is stepping down from the business, with director Andrew Montlake taking over the role in two weeks’ time.
Lowndes (pictured) has been at the London brokerage 10 years, from which time the firm has grown from a startup company with 50 staff to broking almost £1bn of mortgages per year.
A press statement said he has been dedicating much of the past few months on building and implementing the firm’s technology proposition rather than day-to-day management, which is where both Coreco and he think he should be spending his time.
He will retain a shareholding in the company.
Lowndes said: “Coreco is more than a company to me, together we have grown, we’ve become recognised as one of the best in the industry and we’ve nurtured some exceptionally talented people.
“I’m immensely proud of our achievements, our management team, our diversity, our commitment to women in finance, our academy, our apprenticeship scheme and the fun but hard-working environment.
“I’ve made many friends and to step away is the hardest decision I have ever made and not one I have taken lightly. I will always be available if the team want a g&t and my advice, I have no doubt Monty [Montlake] and Jules [Ingall] will be extremely successful in taking Coreco on to the next phase.
“The time is right to find a new challenge, to expand my knowledge in other areas and to embrace my passion for the digitisation that is coming in mortgages and finance. I am passionate about ensuring technology improves what we do, to help us deliver superb advice and create great client outcomes.
“Finally, to quote David Bowie ‘I don’t know where I’m going from here, but I promise it won’t be boring.’ “
The changeover will happen on the 18 July.
Montlake said: “Matt has served this role with distinction, but after 10 years of hard work in one place Matt has the opportunity to expand his knowledge across other fields. Coreco has never been afraid to evolve naturally and this is just the next phase of our journey.
“We have worked hard to put in place a fabulous senior management team and a team of advisors and sales support who are amongst the very best in our industry. Our emphasis on the customer journey, client acquisition and retention, as well as making sure our brand remains relevant and at the forefront of the industry, will continue to drive us further.
“We have several exciting initiatives planned over the coming months and we can look forward to a bright future both for Coreco and for the industry as a whole.
“Matt will always be an important part of Coreco and we are indebted to him for helping us get where we are today and wish him all the best.”