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Kinzett joins First Mortgage Trust

Tuesday, February 21st 2006, 8:50PM
First Mortgage Trust has made two senior executive appointments and added an additional independent director to its board.

The Bay of Plenty and Waikato-based Trust, which provides funding for residential, commercial and rural mortgages and has around 3,500 investors, has grown from $30 million in 1996 to almost $300 million currently.

Its new general is, Tony Kinzett, a 22-year veteran of the finance industry. He has previously been commercial manager and executive director of AGC Finance, sales and marketing manager for NZ Guardian Trust and, most recently, general manager of Nationwide Finance, part of Hanover Group.

Kinzett says says this relationship-based approach to business will continue to be a key means of differentiating First Mortgage Trust and of reaching its goal of $500 million in lending by the end of this decade.

Previous General Manager Neil Pettersen is stepping aside from the role after eight years. After overseeing major growth in First Mortgage Trust, he has delayed his planned retirement to take on the role of financial controller.

In addition to these developments, First Mortgage Trust also has a new director. Peter McDermott has wide experience in banking and finance and has spent eight years working in the City of London and Australia, in addition to 10 years with Bank of New Zealand and its parent company, National Australia Bank.

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