CASE STUDY -
MortgageBrain

When MortgageBrain’s long-time CEO Mark Lofthouse announced his plans to retire in 2020, chairman of the board Peter Hill turned to Drax to help find a successor. From the shortlist Drax presented, the board appointed chartered accountant and ex-Defaqto CEO Zahid Bilgrami to steer the business through its next chapter of market innovation and delivery.

The Result

Peter Hill, Chair at MortgageBrain, said: “Zahid brings a wealth of experience and knowledge to the business as a well-respected CEO with a proven track record. No matter how great a business is, a new person always has a valuable and fresh perspective. Zahid has made suggestions at pace, taking colleagues along with him, and it’s been fantastic to watch. He’s landed really well. It’s a testament to the quality of the individual that Drax helped us find. We now have a strong leadership team that’s in a really great position to take advantage of the legacy that has been created.”

He added: “What really stood out to me during Drax’s engagement was their passion around profiling the executive team to ensure a good candidate fit. The team’s data driven methodology was valuable and they produced a really clear roadmap in terms of how they would approach the task. The milestones were met and the updates were delivered in line with expectations. Ultimately, it was a well-planned and well-executed assignment. When we got to the end of it, Mathew and I had a little chuckle, because we did all of this never having met each other.”

Zahid Bilgrami, CEO at MortgageBrain, said: “I’m delighted to be taking over the leadership role. The business is well placed to provide new innovative fintech solutions into the mortgage and adjacent markets. It’s a really exciting time for the firm.”

“What really stood out to me during Drax’s engagement was their passion around profiling the executive team to ensure a good candidate fit. The team’s data driven methodology was valuable and they produced a really clear roadmap in terms of how they would approach the task.”

Peter Hill
Chair at MortgageBrain
“Replacing a long-serving and successful CEO is always a challenge but its one we were well equipped to deliver on. We worked closely with Peter at the outset to define the brief and to understand MortgageBrain’s market ambition. We then linked that ambition to the scope of the role and the search itself. What we do well at Drax is accurately understand the future thinking of a business as well as the broader skills and experiences of the senior team. Zahid will be a great complement to the existing leadership and we are really pleased to have been able to introduce him to the business.”
Mathew Cuthbertson
Managing Director, Financial Services

See Mathew's profile