John Symond
John Symond Crookwell, New South Wales, Australia | |
---|---|
Education | |
Occupation | Entrepreneur |
Years active | 1965−present |
Spouse |
Amber McDonald (m. 2016) |
Children | 2 |
John Joseph Symond
Early life
Symond was born on 17 August 1947 in
He attended eleven different schools, including
Career
By the late 1980s, he had created a boutique financial services company, Mortgage Acceptance Corporation (MAC), that specialised in finding and providing commercial and investment loans to investors. One of Australia's first mortgage brokers, he eventually undertook a joint venture with
Aussie Home Loans
Supported by a $10,000 loan[1] from his older brother Michael, Symond founded Aussie Home Loans in February 1992 and was able to fulfil his ambition. With his nephew James by his side, Symond was widely credited with bringing competition to the Australian home-lending industry and was the first major disruptor to the banks oligopoly of the Australian home loan market. The company was unique in its approach to home loans, offering 24-hours-a-day service and loans far cheaper than those offered by banks. In 1994, Aussie introduced securitisation to its home loans, allowing it to offer loans upwards of 3% cheaper than its competitors. In 2002, Aussie Home Loans diversified to become a mortgage broker, offering bank and non-bank products.[2]
The company rapidly grew as consumers became aware of its products and that of other non-banks, and the competition heated up. In August 2008, the Commonwealth Bank acquired a 33% stake in Aussie.
Personal life
Symond has two children, Stephen and Deborah. He has been involved with numerous organisations such as Jeans for Genes and is a former chairman of the Sydney Opera House Trust.[citation needed]
Symond has been married to Amber McDonald from February 2016 to December 2023.[6]
He has a substantial collection of Australian art deco and contemporary art including works of Brett Whiteley and Sidney Nolan. In 2017, he took delivery of a 73-metre (240 ft) Dutch-built Feadship named Hasna, believed to have cost more than $100 million.[7]
Symond built a palatial home called Wingadal in the Sydney suburb of Point Piper that is now estimated to be worth over $100 million. He put it on the market in 2016 but withdrew it two months later in 2017.[citation needed]
Net worth
As of May 2023[update], Symond's net worth was assessed as A$780 million, as published in the Australian Financial Review 2023 Rich List.[8]
Year | Financial Review Rich List |
Australia's 50 Richest
| ||
---|---|---|---|---|
Rank | A$ )
|
Rank | US$ )
| |
2017[9][10] | $673 million | |||
2018[11] | 134 | $621 million | ||
2019[12] | 157 | $638 million | ||
2020[13] | 112 | $891 million | ||
2021[14] | 135 | $800 million | ||
2022 | 162 | $800 million | ||
2023[8] | 177 | $780 million |
Legend | |
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Icon | Description |
Has not changed from the previous year | |
Has increased from the previous year | |
Has decreased from the previous year |
Awards
Symond was appointed a
In August 2011, he was listed eighth in a poll by The Australian Financial Review of the most influential business, economic and political leaders of the past 60 years.
References
- Daily Telegraph. 5 October 2013. Retrieved 16 May 2019.
- ^ "About Aussie". Aussie Home Loans blog. Retrieved 16 May 2019.
- ^ "Commonwealth Bank Group". www.commbank.com.au. Retrieved 16 May 2019.
- ^ Johnston, Eric (18 December 2012). "CBA takes control of Aussie Home Loans". The Sydney Morning Herald. Retrieved 17 August 2018.
- ^ "John Symond retires as Chairman of Aussie" (Press release). Aussie Home Loans. 3 November 2020. Retrieved 18 November 2020.
- ^ "Aussie Home Loans founder John Symond and his wife split after eight years of marriage". News.com.au. 23 December 2023. Retrieved 16 May 2019.
- ^ Slade, Jack (5 August 2019). "'Aussie' John Symond Selling His Yacht HASNA For $160m". Boss Hunting. Retrieved 17 November 2020.]
- ^ a b Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
- ^ Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". Australian Financial Review. Retrieved 8 June 2017.
- ^ Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
- ^ Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". Australian Financial Review. Retrieved 26 May 2018.
- ^ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
- ^ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
- ^ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
- ^ "Member of the Order of Australia (AM) entry for Mr John Joseph Symond". Australian Honours Database. Canberra, Australia: Department of the Prime Minister and Cabinet. 10 June 2002. Retrieved 17 November 2020.
For service to the mortgage industry in Australia, particularly the home finance sector, and to the community.
- ^ "AFR readers vote most influential". Australian Financial Review. Archived from the original on 5 April 2012.
- ^ "John Symond is Father of the Year". Herald Sun. Archived from the original on 24 April 2016. Retrieved 28 August 2012.
External links
- Case Study on John Symond
- Interview on ABC
- Kappelle, Liza (7 November 2005). "Housing outlook not all bad news". The Sydney Morning Herald.
- "Lunch with John Symond". The Bulletin Magazine.[permanent dead link]
- "inform ARTICLE" on John Symond
- "Report on John Symond". Stereo 974. p. 8. Archived from the original on 27 September 2007.
- "Our legacy". Aussie Home Loans. n.d.