Grow Finance announces board appointments

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Specialist lender Grow Finance, which provides growth capital for Australian SMEs, today announced that it has appointed to its board two highly experienced financial professionals.

The new chairman, John Murphy, who has also invested in the business, was a partner in international accounting firm Arthur Andersen & Co where he specialised in mergers and acquisitions, and insolvency and reconstruction. He has been a founder and managing director of private equity funds including Investec Wentworth Private Equity and Adexum Capital. He was a director of Investec Bank Australia from 2004 to 2012 and his extensive experience as a non-executive director includes Southcorp, Specialty Fashion Group, Vocus Communications, Ariadne, Gale Pacific, Australian Pharmaceutical Industries and Vita Group.

Grow Finance also welcomed Julie Elliott as a non-executive director. She has over 30 years’ experience in executive and director roles across banking, financial services and government. She is a non-executive director of Cash Converters International and P&N Bank, and a director of Asia Pacific Capital. Her previous positions include chief executive officer at Bank of Sydney from 2013 to 2016, chair of State Trustees and she previously led financial services teams in senior managerial roles at KPMG, NAB and Westpac. 

Grow Finance Chairman John Murphy said: “I am delighted to join Grow Finance at this time of great opportunity. Since the company’s establishment in 2015 the founders have built an impressive national platform, placing more than $700 million of loans to more than 12,000 customers. Despite the pandemic many businesses have adapted to change successfully, creating new prospects for growth. The management team have harnessed a broad range of product platform that helps SMEs to exploit these opportunities. I look forward to contributing to the company’s growth and helping our talented team achieve their aspirations for the business.”

Greg Woszczalski added, “It is with great pleasure that we announce the appointment of our new chairman and non-executive director. On behalf of the Grow Finance board and staff we welcome John Murphy and Julie Elliott to their new roles. We are already making an impact on the market, and their experience will benefit our growth as we create a strong and sustainable future for the company.

“I would also like to acknowledge David Fairfull who is stepping down from the board. He has made a tremendous contribution, and I thank him for his service.”

Grow Finance has a diverse portfolio of equipment finance, trade finance, invoice finance and insurance premium finance which allows clients to manage their liquidity effectively.

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