He says now is the time for the next head to come through
First Mortgage Trust has announced the retirement of its CEO Tony Kinzett after fifteen years of heading up the organisation.
Commenting on Kinzett’s time at the helm of the business, Chairman of First Mortgage Managers Michael Smith said Kinzett had led it “through significant change and growth,” and had built up a strong base of loyal clients and investors.
“When Tony came into the role in 2006, the investor fund size was $280 million,” Smith said.
“By comparison, we now have over $1 billion in the Trust, with nearly 5,000 investors on-board.
“To achieve this, Tony has built a strong team around him, plus he has developed a loyal investor base, and a national network of quality advisors who advocate for First Mortgage Trust and bring quality lending opportunities to us.”
Reflecting on his time at First Mortgage Trust, Tony said that his time in the role has been hugely satisfying and rewarding, but it was now time to step aside and let the next CEO come through.
"First Mortgage Trust in a very good place. We are the leading non-bank first mortgage lender in New Zealand, and we’ve just been named Best NZ Non-Bank of the Year by NZ Adviser,” he commented.
“When I look back over my time at the helm, I reflect on the good times but also on the harder times like the Global Financial Crisis and the COVID-19 pandemic. It’s during these tough times that you see the true calibre of those around you, and I couldn’t be prouder of the people I had around me on both those occasions.”
Smith says that the Board is looking carefully at potential candidates to replace Kinzett, and is expecting an appointment to be made well before his retirement.
“Everyone is committed to a seamless transition, so we are embarking on the process with that end goal in mind,” Smith said.
“Tony is very much committed to the Trust’s ongoing wellbeing, so it’s very much a ‘business as usual’ approach that will be Tony’s legacy.”
