This is an evolutionary progression, said Montlake, as in recent months Lowndes has been spending more of his time concentrating on building and implementing Coreco’s technology proposition My Coreco and improving their processes, rather than the day-to-day management.
Lowndes will retain a shareholding in the company and leaves at the end of July to begin an Open University course in data management in October.
Since 2009, Coreco has grown from a small start-up, to a company of over 50 people and 32 registered individuals and broking almost £1bn worth of mortgages annually, to date led by Montlake, Lowndes and Julian Ingall, head of the specialist finance division.
Montlake has been appointed in a new look managing director role, to concentrate on sales, marketing and media relations and supported by his senior management team.
A shakeup in March last year at Coreco brought Maria Harris, Atom Bank director of intermediary lending, in as a non-executive director onto its Board.
Fit for purpose
The business recalibration also saw Roy Hardy step-down to concentrate on mortgage broking, finance director Francois Taljaard leave but continue building a UK career and Rob Gill most lately launch his own mortgage broking firm, Altura Mortgage Finance.
The firm also put in place an all-female senior management team to help run the business on a day-to-day basis.
Managing director Andrew Montlake, said: “Matt has served this role with distinction, but after 10 years of hard work in one place Matt has the opportunity to expand his knowledge across other fields. Coreco has never been afraid to evolve naturally and this is just the next phase of our journey.
“We have several exciting initiatives planned over the coming months and we can look forward to a bright future both for Coreco and for the industry as a whole.
“Matt will always be an important part of Coreco and we are indebted to him for helping us get where we are today and wish him all the best.”
Hardest decision ever made
Lowndes said: “Coreco is more than a company to me. Together we have grown, we’ve become recognised as one of the best in the industry and we’ve nurtured some exceptionally talented people. I’m immensely proud of our achievements, our management team, our diversity, our commitment to Women in Finance, our academy, our apprenticeship scheme and the fun but hard-working environment.
“I’ve made many friends and to step away is the hardest decision I have ever made and not one I have taken lightly. I will always be available if the team want a G&T and my advice, I have no doubt Monty and Jules will be extremely successful in taking Coreco on to the next phase.
“The time is right to find a new challenge, to expand my knowledge in other areas and to embrace my passion for the digitisation that is coming in mortgages and finance. I am passionate about ensuring technology improves what we do, to help us deliver superb advice and create great client outcomes.
“Finally, to quote David Bowie ‘I don’t know where I’m going from here, but I promise it won’t be boring’.”