Highly respected finance industry leader Mark Joiner has been appointed independent non-executive chairman of the world’s first digital property exchange platform, PEXA.
Joiner replaced Alan Cameron, who stepped down after 11 years on the PEXA board. He has more than more than 30 years of experience in the finance industry, including senior executive roles in Australia, the UK and the US at NAB, Citigroup and the Boston Consulting Group.
Joiner is also non-executive director of the newly ASX-listed Latitude Financial Services and chairman of QBE Australia and New Zealand.
“It is an honour to be appointed chairman of PEXA at a pivotal time for the company’s growth trajectory,” said Joiner.
“I am excited by the opportunities that lie ahead as the world moves to digital property settlements, and look forward to working with the board, the executive team, regulators, PEXA members and the community to continue enhancing the PEXA platform to deliver faster, safer, more efficient and more transparent digital property settlements for users.”
With Joiner at the helm, PEXA is seeking to take its expertise and experience in Australia into new markets, including jurisdictions with Torrens title property systems that largely rely on paper-based settlement processing, starting with the UK next calendar year.
The PEXA platform has completed more than 7.8 million transactions and now handles over 80% of all property transactions in Australia; it is used by state land titles offices, 9,300 practitioner firms, such as lawyers and conveyancers, and 150 financial institutions.
Alan Cameron, who headed up PEXA for 11 years, left in order to spearhead the creation of a national e-conveyancing solution for the property sector in Australia.
PEXA are currently mulling over a $2.5 billion bid from private equity funder KKR and real estate giant Domain. Should the deal go ahead, those two groups will buy out existing owners Link Group and Morgan Stanley, with third major shareholder CBA remaining on.
