The CEO Magazine Australia — November 2017

IT team through this process, saying
they “worked incredibly hard to separate
the infrastructure”.
He says another challenge that went
with separating from a parent company as
large as GE was finding new sources of
funding. Latitude put a fresh treasury team
in place, and made its first public debt
offering to the market through a credit
card master trust. “It was the first time
a credit card master trust had been set
up in the Australian market, and we have
followed that with another very successful
second credit card master trust offering
more recently,” Sean says. In addition,
Latitude has finalised a major bilateral
funding arrangement with an Asian bank
for a five-year term.
“Effectively, over the course of 15
months, we’ve gone from one group of
three-year funding with around 14 funders
and are now in a position with more than
40 funders, which represents an enormous
amount of interest from investors. Further,

the funding ends at different periods

of time – some three years, some five

years,” he explains. However, the major

overarching focus was, in Sean’s words,

“bringing the business back to life”.

In October last year, Latitude launched

a rebranding campaign to jump-start

this revival.

So back to Alec Baldwin. How does

the long-time Hollywood actor fit into

the Latitude story? The connection is not

as far-fetched as you might think. In fact,

the answer lies with a quick flick of the

remote on your TV. Latitude recruited

advertising agency CHE Proximity for the

campaign, which then recruited Baldwin

to headline in several TV spots. In the ad,

Baldwin appeals to Australians to make

better choices when financing a car, a

holiday, or even the classic pub schnitzel.

The commercial also stars the Latitude

team of ‘superheroes’, referred to as the

‘betterers’, rescuing average Australians

from their financial servicing woes at the

“Our unwavering commitment

to quality, an innovative

approach to business software

and services solutions, and our

collaborative partnership based

on trust and expertise, all

helped deliver value and drive

positive outcomes for Latitude

Financial Services’ strategy.”

• Nick Southcombe, General
  Manager, Frontier Software

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