Loan Market Group (LMG) has hired former Westpac executive Shane Howell to head up the firm's business lending division as Australia's largest loan aggregator steps up its investments in small- and medium-sized enterprise (SME) lending and business finance.
Howell — who begins his tenure with the firm on Monday, 4 May — will take on the role of group executive - business lending, reporting directly to LMG Chief Executive Officer and Executive Director Ewen Stafford.
Howell will work alongside Stephen Scahill, group executive - commercial, who continues to lead LMG's commercial broker and lender relationships. He has been tasked with growing LMG's SME and business lending capabilities across Australia and New Zealand.
Stafford said hiring Howell was in response to the growing market demand for SME lending, combined with a gap in the market.
"We're deepening our investment in the SME and business lending space because we know the broker channel can do for business lending what it has done for home lending: giving Australians more options, better outcomes and a real alternative to the traditional path," Stafford explained.
He added that "Shane understands business lending from both sides, what lenders are weighing up and what brokers need from a partner. That combination is rare, and it's why we’re so pleased he is joining LMG."
Howell joins from Westpac Group, where he spent more than two decades in a number of senior-level roles, including general manager of commercial banking and managing director of business lending.
"He is well respected across the industry for his deep understanding of business lending from both the lender and broker perspectives," LMG added in a statement.
Regarding the move, Howell said: "LMG is operating at a scale and pace that genuinely excites me. The broker channel has reshaped Australian home lending and there's a real opportunity to do the same in business finance. But it takes serious commitment, the right partners and a willingness to build. That's what I see at LMG.
Howell's arrival comes amid growing demand for SME lending in Australia, much of which has been fueled by self-employed owners. A growing number of small businesses are seeking capital to expand, whether that be through hiring new staff, upgrading equipment, moving offices or expanding marketing schemes.
But Howell said this sector continues to be underserved.
"Too many Australian businesses don't get access to the capital they need, and we want to change that," he explained. "Our ambition is to connect brokers, lenders and capital so more businesses can access funding on the right terms.
"At a time of ongoing economic pressure, access to the right capital structured appropriately and delivered quickly is critical," Howell added. "The work ahead is making sure more Australian businesses, not just some, can access the funding they need to grow."
In addition, LMG is growing its commercial finance platform. The group recently expanded its lender panel with the addition of specialist commercial asset finance lender Maple Asset, giving LMG brokers more options across the commercial finance space.
Last year, the aggregator walked away with two awards at the 2025 Mortgage and Finance Association of Australia's (MFAA) national conference and Excellence Award ceremony in Melbourne: the "Aggregator Award" and the "Professional Development Award."
Regarding LMG's growth story, Suzi Trajanovski, LMG's head of growth, told Australian Broker at the time: "It's taken us a few years to build a platform.
"We really built a platform designed for brokers to tap into it," she added. "We put so much work into learning and development and education."
