Chris Slater, former CEO of Fintelligence, enters Australia’s growing M&A market
Chris Slater is preparing to take on a new role in May at Recludo, focusing on the expansion of the M&A market and the reliance on brokers in Australia. Slater, who stepped down from his position at Fintelligence, is poised to join Recludo Group as the head of strategic growth. His responsibilities will include identifying potential brokerages for acquisition, facilitating their growth, and preparing them for future resale.
As Slater noted, the mortgage broking sector in Australia has become increasingly prominent, with 76% of mortgages being facilitated by brokers. There has been a notable influx of entrepreneurial interest in the industry, presenting a valuable opportunity for Recludo. Slater highlighted the long-standing presence of the Australian broker and aggregator market, which began to take shape in the 1990s, making the current timing ideal for the implementation of Recludo’s business model.
Discussing the demographic shift within the industry, Slater noted that many individuals in the broker market originated from banking backgrounds, establishing mature businesses with potential succession opportunities. This has created an ideal environment for the emergence of a new ownership model within the mortgage brokerage space to support the long-term growth and development of the sector.
While global M&A activity experienced a decline in recent years, Australia has emerged as a notable exception, showcasing a 30% increase in total deal volume in 2024 compared to the previous year. According to Slater, there has been a surge in M&A activity within the Australian market, with significant transactions anticipated in the near future. He highlighted the acquisition and merger trends among larger broker firms and aggregators, emphasizing the evolving landscape of the lending sector.
Recludo’s strategic plan under CEO Tim Brown involves investing in approximately 50 brokerages over the next five years. Slater revealed that the firm has already completed two transactions in 2025, with plans to finalize additional deals in the coming months. The ultimate goal is to exceed ten deals by 2026 and position these acquired firms as leading entities in the Australian broker market.
Recludo’s acquisition model focuses on obtaining majority stakes in mortgage and finance brokerages with loan books exceeding $300 million. The firm conducts comprehensive assessments of the brokerages’ operations, client experience, risk management, and financial performance to identify opportunities for long-term growth and value creation. By targeting firms of significant size, Recludo aims to leverage its expertise and resources to enhance the overall market position and performance of acquired brokerages.
