Australian Finance Group has decided to keep its interim chief executive in the role on a permanent basis, after Brett McKeon stepped down in March.
“David has been with AFG for over 13 years and holds a wealth of experience from his roles as chief financial officer, chief operating officer, as well as interim CEO,” Mr Gill said.
“Importantly, having worked closely with our former CEO Brett McKeon both prior to Brett stepping back and also since David’s appointment as interim CEO, he is well known to AFG’s brokers, business partners and shareholders.
“David in his time with AFG, has had direct responsibility for its business development, strategy and finance operations as well as leading our AFG Home Loans business, including our securitisation program.”
In his role, Mr Bailey will receive a base salary of $550,000 per annum including superannuation, plus incentives.
Mr Bailey said he was delighted to have been affirmed for the position.
“We are in an exciting and important phase of AFG’s development and I look forward to steering AFG further down the path of diversified growth whilst also ensuring the core broker proposition of choice, competition and strong consumer outcomes is maintained,” he said.
AFG shares were unchanged at $1.20 at the close.