Non-bank auto and equipment loan provider Metro Finance has announced David Albest (pictured above left) as its new chief executive officer.
The appointment comes as Metro Finance founder and former CEO Phillip Crossman (pictured above right) moves into the role of executive chairperson within the business.
Before his announcement as CEO, Albest was Metro’s chief operations officer and has been with the company for more than a decade.
Crossman said he was pleased to see Albest stepping into the role of CEO at Metro Finance – a company he founded in 2011.
“As I take on this new role within the company, I’m delighted to be passing the baton to David; someone I have worked with closely for over a decade, and someone with a wealth of experience both within the Metro business and in the wider finance sector,” Crossman said.
“I am certain David will continue to take Metro to new and exciting heights, and I’m looking forward to supporting David as CEO in my new capacity as Metro’s executive chairman.”
In his new role as Metro CEO, Albest brings over 25 years of asset finance experience to the business after senior roles at Resimac, Macquarie Group, and Capital Finance.
As one of Metro’s first employees, the company said Albest has been instrumental in growing the business from just three staff and is credited with helping to instil Metro’s customer-first, collaborative culture.
Albest said he was excited for what the future holds for the business, and paid tribute to Crossman.
“It’s an exciting time for the Metro business as we continue to innovate and offer new products to our customers. Certainly, Phil leaves some huge shoes to fill, but I’m thrilled to be taking on this new opportunity with the company I have spent the last decade helping to build,” Albest said.
“I’d like to thank Phil, our staff and introducers for their continued passion, dedication and support. I’m looking forward to taking on this incredible opportunity and leading the Metro team into a new chapter.”
Metro Finance said the business continues to go from strength to strength, with a range of innovative, flexible products for consumers.
It comes as the non-bank sector aims for growth despite a turbulent market.
Recently, Metro unveiled what it claimed to be an Australian-first: its new MetroEco product, designed to make it easier and more affordable for small-medium businesses to invest in environmentally friendly assets, such as electric vehicles, farming equipment, solar panels and charging solutions.
Metro works with a national network of introducers to provide a range of customer-led financial solutions including commercial and personal finance and novated leasing.
It lends approximately $1.5-$2 billion per year through an Australia-wide network of specialist brokers.
