Milburn (pictured) will step down to take a career break to spend more time with his family. He held the role of Pepper's GM for mortgages and commercial lending, and led the NZ business following its launch in 2019.

According to Australian publication Mortgage Business, Pepper has hired Barry Saoud as its new general manager for mortgages and commercial lending, effective from July 20. 

Mr Saoud is currently the head of products and company secretary at  Australian broker Aussie.

At Aussie, Saoud held responsibility for sales, product, operations, finance and risk, as well as managing a $10 billion home loan portfolio and various insurance and consumer product portfolios.

The new boss has also worked for GE Capital,  HSBC and Norton Rose Fulbright.

Pepper Money CEO Mario Rehayem said: “Barry is the right person to lead our mortgages and lending division and has extensive executive  and senior management experience within the financial services industry. 

“He has a stellar reputation in the industry – and is well known to many within Pepper Money as a key partner in the establishment of the Pepper/Aussie white label program."

Rehayem added: “As we welcome Barry, we would also like to acknowledge Aaron Milburn’s significant contribution in leading the mortgage and commercial lending business over the past four and half years, and we wish him well as he enjoys this next chapter with his family.”