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Premium Funding, Principal Finance appoint Chairman

Mike Cutter has been appointed Chairman at Premium Funding and Principal Finance.

Mr Cutter, a former National Insurance Brokers Association (NIBA) board member, has more than 34 years’ experience in financial services locally and internationally, most recently as the Group MD of Equifax ANZ.

“His vast experience and leadership will be invaluable in the next stage of development of our business,” said group company CEO Daniel Gronert.

At the start of the year, Premium Funding and Principal Finance revealed they are merging under a new ownership arrangement that also sees private equity investor Pemba Capital Partners take a key stake. They will operate under their respective names until a completion date, which is still to be determined.

Mr Cutter is a Director at Sezzle, a US based finance company, and non-bank mortgage provider Pepper Money. He is also an adviser to Credit Clear, an Australian collections technology provider and a co-founder of Kadre, a credit risk management consultancy.

He has previously served on the boards of the Women’s Cancer Foundation, Ovarian Cancer Institute, the Australian Finance Congress, and the Australian Retail Credit Association.

‘‘With an outstanding blend of technology and the team’s expertise, the group company is well placed to service both business and client needs for funding solutions, now and into the future,” Mr Cutter said.