Pictured above: Mark Darrow.
MTF Finance Board Chair Mark Darrow will retire at the end of his current term in mid-2026, bringing to a close a six-year tenure at the New Zealand-owned lender.
Darrow became Chair in July 2020 and has overseen the execution of a long-term strategy that the company says has strengthened its market position and expanded its lending capabilities.
Chief executive Chris Lamers says Darrow’s leadership helped guide the organisation through a period of rapid change.
“Mark brought a focus and drive to the organisation that kicked off an extraordinary expansion period, nearing 100% business growth, with a corresponding increase in value for originators and shareholders,” Lamers says.
“His commercial acumen, governance skills and passion for the industry have focussed the strategy and the team on delivering for customers and shareholders. The impact he has made across every part of the business has been immense, and the benefits will be felt for years to come.”
During Darrow’s tenure, Lamers says MTF Finance delivered consistent financial performance despite challenging economic conditions.
Finance receivables grew to more than $1.1 billion, total assets exceeded $1.2 billion, and annual lending reached $792 million in FY25.
The company also distributed $91.6 million in commissions and earnings to its nationwide network of originators in FY25, while recording a Net Promoter Score of 81.9, well above the financial services industry average of 16.
The board also oversaw a multi-year transformation programme, including the development of MTF Connect, a rebuild of the company’s technology infrastructure designed to support future growth and improve the experience for customers and originators.
Darrow says he was proud of the progress made during his time as chair.
“I joined MTF Finance as it was a company I had previously competed against in market, and its unique business model made it a tough competitor,” he says.
“I am proud that what has been achieved over the past six years builds on the enduring history of MTF Finance, placing the company in a strong position to continue its growth trajectory.
“I would like to thank the Board, our shareholders and originators, and the national office team for making this such a special company and such an important chapter in my governance career. I have worked with some very talented MTF Directors who always focused on our people and on creating shareholder value. It has been a pleasure being part of the MTF Finance journey.”
Lamers says the board would now focus on building on the foundation established during Darrow’s tenure.
“We will continue challenging and evolving how finance works in New Zealand – by making lending all about people.”
MTF Finance has begun the process of recruiting a new independent chair and will work with Darrow to ensure a smooth transition.
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