New COO appointed as part of executive reshuffle, with board changes set for year-end
Mortgage Advice Bureau (MAB) has announced several changes to its leadership team, including a shift in executive roles and new board appointments, as part of its wider growth strategy.
Ben Thompson, currently deputy chief executive, will move into a new strategic role at the end of 2025 and step down from the company’s board. He will focus on strengthening the firm’s mortgage proposition and expanding customer services. Thompson has been with MAB for seven years and has played a key role in its growth.
Yaiza Luengo has been named chief operating officer, effective September 8. She will also join the executive committee and is expected to take a board seat following Thompson’s departure, pending regulatory approval. Luengo has more than two decades of financial services experience, including senior roles at HSBC, Barclays, RBS, Refinitiv, and WiZink Bank.
In addition to Luengo’s appointment, the board will welcome two new independent non-executive directors, subject to approval. Mandy Donald, a chartered accountant and former EY partner, will chair the audit committee and sit on the remuneration, nomination, and group risk committees. Orlando Machado, a data specialist with 30 years’ experience, will also join the same committees. He has held senior positions at LEGO, dunnhumby, MoneySuperMarket, and Aviva.
Rachel Haworth also became senior independent non-executive director on Wednesday, in addition to her current role as chair of the remuneration committee. Her appointment is also subject to approval.
Nathan Imlach will step down from all committee roles but will remain on the board as a non-independent non-executive director.
“These board changes are a natural evolution of MAB,” said Mike Jones, non-executive chair at Mortgage Advice Bureau. “The appointment of Yaiza as chief operating officer, a newly created role, is central to delivering on the ambitions outlined by our Executive Team at our Capital Markets Day earlier this year. Yaiza’s considerable operational experience, and technology background will provide important leadership as we deliver on our medium-term growth targets.
“Mandy combines deep financial services expertise and significant Board experience in scaling businesses. Orlando brings data science and AI expertise at Board level, both of which are at the forefront of MAB’s strategic decision making.”
The announcement follows the recent appointment of Sanjay Gadhia as regional sales director for later life, part of MAB’s effort to bolster its leadership team across key business areas. .
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