Former Lib John Hewson heads up Aussie IT service provider

For the past 21 years, The Pisces Group has provided business transaction platforms. The service provider claimed it was a pioneer of electronic mortgage application lodgement in Australia and a leader in mortgage sales and distribution solutions.

Jega Rajan, managing director of The Pisces Group said Dr Hewson will bring many skills to the board, including his knowledge of and contacts in the finance and banking industry.

“The Pisces Group approached John several months ago, and what impressed directors and senior management was how he took his time to fully understand our business model and the market space in which we operate,” he said.

According to Hewson, the time has come for a significant mortgage platform. In light of the changes that are taking place in the market - especially the shake-out in the mortgage finance sector including the broking fraternity - there are opportunities for a company such as The Pisces Group to offer a platform that reduces the cost of performing a mortgage transaction.

Dr Hewson brings to the post a long corporate history. He was a founding director of Macquarie Bank and chairman of ABN AMRO. When approached by The Pisces Group a few months ago, he did not just spend time examining the business model and the industry, claimed Rajan.

The Pisces Group, turned over $15.3 million in the 12 months to June 30 2007 and has an established track record delivering technology solutions across various industries, with a particular emphasis on developing transaction platforms for the mortgage industry.