In this role at Pepper Advantage, Milburn will manage its portfolio of £20bn in assets under management (AUM), and he takes over from Gerry McHugh, who will retire after a “transitional period”.
Milburn has worked at the firm for around a year, initially joining as managing director for Pepper Advantage Hub and then taking on the role of residential director for Pepper Advantage Indonesia.
Prior to that, he worked at Pepper Financial Services for nearly five years, joining as director of sales and distribution for Australia and New Zealand and then becoming general manager for mortgages and commercial lending for the region.
He has also worked at Westpac Group, St George Bank, Citi, and Bankwest.
Fraser Gemmell, global CEO of Pepper Advantage, said: “Aaron is an experienced leader with a clear record of delivering growth, a positive culture, and unparalleled results for customers. His knowledge, energy, and commitment to clients makes him the right person to take on this critical role, which has been so ably filled by Gerry McHugh.
“I would like to thank Gerry for all his contributions to Pepper Advantage over the last 13 years and wish him the very best for a well-deserved retirement. I am confident the business Gerry helped to grow will reach new heights under Aaron’s leadership.”
Milburn added: “I’m excited to be joining Pepper Advantage’s UK business at this pivotal moment for credit markets.
“The team’s efforts to support borrowers alongside our growing data and technology solutions, which include our strategic joint venture (JV) with Clay and a material focus on increasing our unsecured consumer loan offering, position us well to deliver the insights and service our clients need in this period of cost pressures and elevated interest rates.”
In its latest results for Q4 2023, Pepper Advantage reported that arrears across its 100,000-strong UK residential mortgage portfolio had risen by nearly a third compared to the same period last year.
