Prime Capital appoints new chief commercial officer

Previous CCO moves into CEO role

Prime Capital appoints new chief commercial officer

Prime Capital has appointed Malcolm Withers to the role of chief commercial officer, superseding Steve Sampson, who will step into the position of CEO.

The non-bank lender said the changes bolster its senior leadership team as it prepares for further growth.  

Current chief commercial officer Steve Sampson (pictured above left) is to lead the company as CEO from January 2023, replacing Paul Scanlon.

Withers is currently head of commercial at Pepper Money – the non-bank lender’s first head of commercial real estate lending. He worked for St. George Bank for nine years, where he drove the strategic direction of commercial loan acquisition through brokers for St. George Bank, Bank of Melbourne and BankSA.

Based in Sydney, Withers (pictured above right) has also held roles with Bankwest, Suncorp Bank, RAMS Home Loans and Citibank.

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Sampson acknowledged Withers’ longstanding experience in the financial services industry, which spans business development, commercial banking, and sales management.

He said the new CCO would “lead the next phase of growth”, by working closely with the sales team, mortgage brokers and aggregators.

“Malcolm is of course very well known in the third-party channel and couldn’t have joined us at a better time as we grow our business at scale, strengthen our sales capabilities and support more brokers. I couldn’t be more delighted,” Sampson said.

Withers’ experience in leading commercial lending and broking channels would help Prime Capital to refine its strategy and accelerate efforts to expand its lending portfolio, he said.

“We are now participating on 11 aggregator panels and our partner brokers will benefit from Malcolm’s experience as we help them expand their services further into commercial transactions,” Sampson said.

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On stepping into the COO role, Withers said he looked forward to contributing to Prime Capital and making an impact on partner brokers and their clients.

“It’s a privilege to work with a lender as dynamic, innovative and ambitious as Prime. I can’t wait to be part of the new phase of its journey,” Withers said.

Withers will join Prime Capital as chief commercial officer in mid-October.