Firstfolio targets exiting brokers for growth

April 15, 10

Firstfolio CEO Mark Forsyth is on the hunt to buy up loan books from brokers wishing to exit the industry.

The aggregator is believed to want to increase its $20bn loan book to as much as $30bn by the end of the year.

“We see opportunities in buying books from businesses which have gone to the wall, or increasing geographic presence through groups that survived the crisis,” Forsyth said.

Firstfolio recently acquired Xplore Capital, Loan Services Australia and First Chartered Capital, which added $6bn to its loan book.