Mortgage Advice Bureau has made a series of boardroom changes, with two high-profile non-executive appointments and a shift in executive leadership as deputy chief executive Ben Thompson prepares to step down from the board later this year.
Dr Orlando Machado and Mandy Donald have both joined the MAB board as independent non-executive directors with immediate effect.
Donald, a chartered accountant and former EY partner, will chair the audit committee and sit on the remuneration, nomination and group risk committees.
Machado, a data scientist and former chief data officer at LEGO, brings specialist expertise in artificial intelligence and data analytics. He will also join all four key board committees.
Their appointments coincide with other governance changes. Rachel Haworth will become senior independent non-executive director from 18 June, subject to approvals, while Nathan Imlach, who previously held that role, will step down from his committee duties and remain on the board as a non-independent non-executive director.
“These Board changes are a natural evolution of MAB,” said non-executive chair Mike Jones, who welcomed the expertise Donald and Machado bring to areas that are increasingly central to the company’s strategy.
“These appointments will benefit the Board and wider organisation greatly.”
NEW ROLE FOR THOMPSON
At the executive level, deputy CEO Ben Thompson is set to transition into a newly created strategic role focused on optimising MAB’s mortgage business and expanding its customer proposition.
He will step down from the board at the end of the year, ending a seven-year term that has seen MAB consolidate its position as a leading tech-driven broker in the UK mortgage market.
“Although he has chosen to step down from the Board due to personal circumstances, I am delighted that his major contribution to the business will continue in his new strategic role,” said Jones.
Thompson’s board departure paves the way for the arrival of Yaiza Luengo, who joins MAB as chief operating officer and member of the executive committee on 8 September. Subject to approvals, she is expected to take a seat on the board following Thompson’s departure.
Luengo brings more than two decades of experience in financial services and has held senior roles at Barclays, HSBC, RBS, Refinitiv and WiZink Bank. Her background in technology-led transformation and digital platforms will be key to delivering on the ambitions laid out by the executive team at MAB’s recent Capital Markets Day, said Jones.
The changes come as MAB continues to position itself for medium-term growth, supported by a renewed focus on data, AI and customer experience alongside strong financial governance.
