Advisory and property finance are now split into two distinct units
Independent mortgage brokerage Squirrel has restructured its leadership, splitting its advisory and property finance operations under two newly appointed heads.
Founder John Bolton (pictured) has stepped away from residential advisory work to become group head of property finance, a newly created role focused on development and commercial lending. At the same time, Callan Wayne-Bowles has been promoted to group head of advisory, taking charge of 50 advisers across New Zealand.
Chief executive David Cunningham said the restructure followed a period of expansion in both parts of the business.
“Our property finance business recently surpassed $1.5 billion in all-time lending originated, across more than 1500 development projects – supported by strong growth in our saving and investing business. And over the last 12 months, our wider advisory team has overseen more than $3 billion in mortgage lending,” Cunningham said, adding that the split will allow the two divisions to operate with clearer priorities.
“The decision to split out the two units under JB and Callan’s leadership will enable us to take a more targeted approach to growth and innovation moving forward, and we have some big plans in the pipeline.”
Read more: Squirrel has 24 of New Zealand's top mortgage advisers
Squirrel was founded by Bolton in 2008 during the global financial crisis. Since then, it has expanded into savings and investment services, which launched in 2015 and now manage more than $550 million for investors.
Wayne-Bowles joined the company in 2022 through its merger with Wellington mortgage brokerage The Home Loan Shop. He has over 25 years of financial services experience, including more than a decade as a mortgage adviser.
