Mortgage Brain chief executive Mark Lofthouse is to retire in 2021 after 19 years in the role.

Lofthouse joined the financial technology firm in 2002 when it was a ‘single niche’ product provider and helped develop it into the business it is today.

Prior to joining Mortgage Brain, Lofthouse was managing director of Assureweb and was also previously divisional director at ACT Financial Systems.

Mortgage Brain chairman Peter Hill says: “Mark’s vision, knowledge and tenacity has delivered immeasurable benefit to both the industry and the company. Advisers, lenders and the industry have hugely benefited from the technology advancements that Mortgage Brain has made over the years. The latest transformation of mortgage sourcing through the integration of product, criteria and affordability sourcing is just one example of how Mark’s leadership, sincerity and honourable nature has provided unique innovative solutions.

Lofthouse says: “It has been a privilege to lead the Mortgage Brain family for almost two decades and experience first-hand the benefits that our technology has brought to our customers. I’ve thoroughly enjoyed working alongside so many gifted people and rising to the challenges and opportunities that have faced us through the years.

“The executive team, management and colleagues at Mortgage Brain are exceptionally talented and well placed to successfully meet and exceed expectations in the future as the technological transformation continues as we adapt to the new world around us. I wish them all the very best and thank them and our many loyal customers whole heartedly for their support during the last 19 years.”

Drax Executive Limited have been appointed to work with the board to appoint his successor and Mark will retire after a period of handover during 2021.