Mortgage broker MoneyQuest has launched a franchise operation, offering brokers an opportunity to build their own businesses. MoneyQuest is headed by Michael Russell, the former chief executive of Mortgage Choice - one of the country's biggest broker franchise businesses. Russell said in a media release that MoneyQuest's franchise operation would include a high level of automation, an online training academy and a multi-source lead generation. Rich Randall has been appointed head of debt investments for IFM Investors. He replaces Robin Miller, who will "semi-retire from IFM Investors after a 17-year association with the company." IFM said Miller would remain with IFM Investors and will transition to the role of senior advisor and chair of the investment committee. Randall will continue to be based in IFM Investors' New York offices. Before joining IFM Investors in 2013, Randall spent ten years at RBS, where he managed the bank's portfolio of infrastructure investments. Former head of retail at Westpac, Gai McGrath, has joined the board of IMB Bank. McGrath is a lawyer who worked in private practice before moving into the financial services industry. At Westpac she held senior positions at Westpac New Zealand and BT Financial Group before becoming general manager retail at Westpac. IMB Bank chair Michael Cole is scheduled to retire this year.