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Briefs: SocietyOne appoints CFO, Cameron Clyne to research inequality, non-bank lenders kicking tyre

22 March 2016 5:51PM
SocietyOne has appointed Anna Harper as its new chief financial officer. Harper was the group financial controller of the assisted reproductive services company Virtus Health. Her appointment comes only weeks after the appointment of former Westpac senior executive Jason Yetton as the marketplace lender's chief executive. The company reported that loan approvals reached A$60 million at the end of last year. Former NAB CEO Cameron Clyne has been announced as a member of a new Inclusive Prosperity Commission, set up by the Chifley Research Centre and the Labor Party. The commission will study the threat to Australia's future economic growth presented by growing inequality - and suggest a new set of economic policies. Pepper Group and AFG are among interested parties that have received teaser documents for the WA Government's A$1.6 billion Keystart loan portfolio sale, sources told the AFR's Street Talk. Other names expected to run a ruler over the loan book - set up in 1989 to provide low deposit and shared equity home loans to low-to-medium income earners - include RESIMAC, Bank of Queensland and Bendigo and Adelaide Bank. The teaser is understood to cite a weighted average yield on the portfolio being sold of 5.1 per cent and an average loan size of $220,000.

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