Mortgage Advice Bureau deputy chief Ben Thompson will step down from its board, as it appoints a chief operating officer amid a flurry of changes at the broker network.  

Thompson (pictured) will leave the board after seven years at the end of 2025 and move to a new role focused on “broadening and strengthening its customer proposition,” the firm says in a stock market statement.

The move comes as the business appoints Yaiza Luengo to the newly created role of chief operating officer and member of the executive committee, with effect from 8 September. 

Luengo has over 20 years of international experience in financial services, including holding senior roles at RBS, Barclays, HSBC, Refinitiv and WiZink Bank. 

MAB says Luengo has “a strong track record in driving large-scale transformation, revenue leadership and operational restructuring in regulated environments.  

“She has led technology-enabled change across cloud and data architecture, artificial intelligence, digital customer experience and enterprise platforms.” 

Luengo is expected to join the board when Thompson steps down at the end of this year, subject to regulatory approval. 

The network also makes a series of non-executive director appointments, with immediate effect. 

Mandy Donald becomes an independent non-executive director and will chair the audit committee and serve on the remuneration, nomination and group risk committees. 

Donald previously worked for accountants EY for 18 years. 

Orlando Machado also becomes an independent non-executive director, serving on the remuneration, audit, nomination and group risk committees. 

Machado, a data scientist, was formerly chief data officer at the LEGO Group. 

Also, Rachel Haworth will become the board’s senior independent non-executive director, subject to all necessary approvals, in addition to her current role as chair of the remuneration committee. 

While Nathan Imlach, previously senior independent non-executive director and chair of the audit committee, will step down as a member of the audit, remuneration, nomination and group risk committees, but remains on the board as a non-independent non-executive director. 

MAB non-executive chair Mike Jones says: “The appointment of Yaiza as chief operating officer, a newly created role, is central to delivering on the ambitions outlined by our executive team at our capital markets day earlier this year.  

“Yaiza’s considerable operational experience, and technology background will provide important leadership as we deliver on our medium-term growth targets.   

“Since joining the group in 2018, Ben has been a key member of the team that has delivered significant revenue and market share growth at MAB, and although he has chosen to step down from the board due to personal circumstances, I am delighted that his major contribution to the business will continue in his new strategic role.”