RateCity.com.au to lose CEO Damian Smith to Telstra venture capital opportunity

Damian Smith, a regular commentator on mortgage trends, has resigned as CEO of financial comparison website RateCity.com.au after three years at the helm.

He will remain at RateCity.com.au. until the end of the month before taking up a new opportunity at Telstra’s Application Venture Group (AVG) with the aim of developing an offering in the consumer health space.

Andrew Willink, founder of RateCity.com.au.and chairman and founder of the Canstar group of companies, will take over from Smith as interim CEO while a replacement is recruited.

Michelle Hutchinson, RateCity.com.au’s public relations manager and consumer advocate, has taken over as spokesperson for the website.

“I am leaving RateCity with a heavy heart,” Smith tells Property Observer.

“I have loved my time here.”

Since his appointment as CEO in 2009, Smith has been the spokesperson for the website and a regular media commentator on mortgage trends and interest rates.

RateCity.com.au was set up in 2006 as a free financial comparison service for consumers. It earns money by generating qualified leads for financial institutions.