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Aussie-Lendi merger officially completes
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The merger between major brokerage Aussie and online loan platform Lendi has officially finalised, with David Hyman taking the helm as group CEO.
Online brokerage Lendi has announced the completion of its merger with franchise brokerage Aussie Home Loans to form the Lendi Group to create what it said is the biggest retail mortgage brokerage.
In December 2020, the Commonwealth Bank of Australia (CBA) – the previous parent company of Aussie – announced that it had signed a binding heads of agreement to merge Aussie with Lendi.
Under the agreement, Lendi shareholders hold the majority shareholding of 55 per cent in the merged business, while CBA holds a 45 per cent shareholding and continue to provide funding for the Aussie Select branded home loan product.