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Culhane quits Oakwood and moves to Oz

Oakwood Global Finance chief executive Mike Culhane has left the business and moved to Australia to become the executive chairman of specialist lender Pepper Homeloans.

Culhane left Oakwood on October 31 but will remain a shareholder and an adviser. He co-founded Pepper, which was formerly an Australian subsidiary of Oakwood, with current Oakwood president and group chief operating officer Richard Klemmer in 2001.

Pepper announced in June that it had been acquired by Pepper Group.

Prior to founding Pepper, Culhane and Klemmer both worked at Future Mortgages.

Oakwood Global Finance partner James Bamber says: “Pepper Homeloans is a business Mike has always been close to so the opportunity proved attractive and, given where our business is today, he thought it would be fine for him to become the executive chairman of Pepper Homeloans.”

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