Andrew Montlake (pictured, left) will be the new managing director of Coreco following the announcement that Matt Lowndes will step down from this role.
Lowndes has been managing director of the company for 10 years. However, in recent months he has stepped back from day-to-day management, focusing instead on building and implementing Coreco’s new technology proposition
Lowndes will retain a shareholding in the company but says he will pursue other opportunities in tech outside the company. Coreco was founded in 2009, and now employs 50 people and broker around £1bn of mortgage a year.
Montlake says: “After 10 years of hard work in one place Lowndes has the opportunity to expand his knowledge across other fields.”
He adds that the company has a number of new initiatives planned over the coming months.