Experienced leader keen to drive innovation and competition
Pepper Money chief executive officer Mario Rehayem has been appointed as the new chair of peak body the Australian Finance Industry Association.
AFIA is the only peak body representing the entire finance industry in Australia. It has more than 150 members including bank and non-banks, fintechs and asset finance providers.
Rehayem (pictured above), the CEO of non-bank lender Pepper Money, brings more than 20 years of experience working in business and finance to the role of AFIA chair. His appointment, effective as of March 1, means Rehayem will replace Peter Jones, who has been chair of AFIA since 2020 and a member of the board since 2017.
Speaking to MPA following the announcement, Rehayem said he was “deeply honoured and privileged to have been elected chair of this esteemed association that represents the entire Australian finance industry”.
“Together with over 150 members nationwide, and alongside my fellow board members, and CEO Diane Tate, I am eager to collectively strive for our members to finance Australia’s future in the most sustainable, innovative, and inclusive way possible,” Rehayem said.
As the only the only peak body representing the entire finance industry, Rehayem said AFIA’s function was to collaborate with its members, governments, regulators and customer representatives to “promote competition and innovation, deliver better customer outcomes, and create a resilient, inclusive and sustainable future for Australia”.
He said AFIA was engaged in ongoing dialogue with the federal government and regulators to promote and provide new policy, data, and insights that support the organisation’s advocacy in building a prosperous future for Australia.
“We recognise the magnitude of influence that economic policies can have on fostering a resilient, inclusive, and sustainable financial future for Australia,” Rehayem said.
“Three pressing issues we are focusing on with government include economic growth through sustainability and net-zero initiatives, driving the digital economy through competition and innovation, and improving consumer outcomes through regulation and financial inclusion.”
Rehayem said AFIA’s membership covered not just banks but a diverse range of key players including non-bank lenders, finance companies, fintechs, vehicle and equipment finance providers, service providers and more.
“Having such diversity represented in our membership and in leadership, ensures that the interests and perspectives of crucial segments of the industry are well-represented and fosters a more inclusive approach.”
AFIA CEO welcomes Rehayem’s appointment
The CEO of AFIA, Diane Tate, in a media release on the AFIA website, said the industry body was delighted to welcome Rehayem as its new chair.
“His appointment comes at a pivotal time for AFIA as we navigate a dynamic economic, regulatory and technological landscape,” said Tate (pictured below).
“As the leading peak-body representing the entire finance industry in Australia, Mario brings valuable consumer insights at a time where cost-of-living pressures are impacting many Australians.
“I look forward to working with Mario who has been a leading advocate for our industry and someone who strongly advocates for better outcomes for Australian consumers.”
Tate also acknowledged Jones’s contribution to AFIA as a board member and chair.
“Peter’s leadership and expertise have been invaluable as we navigated the challenging years of the COVID-19 global pandemic, a change in the federal government, changing trade, investment and supply chain dynamics, and increasing inflationary pressures,” Tate said.
“I thank Peter for his guidance and support for me as AFIA CEO, and for his dedication and service to the industry for over 30 years. We wish him all the best.”
Congratulate Mario Rehayem on his new role as chair of AFIA. Comment below
