The Finance Broker Association of Australia's (FBAA) has reshuffled its C-suite, as long-time leader Peter White prepares to depart.
The broking industry body has appointed Leo Gagic as its new chief executive officer, while former federal minister Nick Sherry will take on the role of board chair.
"Over the recent months, the board ... has been using this time of change to consider ways to increase our impact, build our industry to even greater heights and provide even better support to our members," FBAA's board said in a statement. "While we celebrate what has been an amazing journey for the FBAA to date, and will always hold to the values that have brought us this far, we believe that what is ahead must eclipse the successes of the past. This is even more important as we enter a dramatically different business environment shaped by ever-evolving technology.
"This desire to embrace the new starts with our leaders, and it is with excitement that we announce two appointments that will help shape the future of our association," the board continued.
The updated leadership team arrives after White — who spent 23 years at the helm of the FBAA — announced that he was leaving the group in February.
The FBAA paid tribute to White's legacy, stating: "There are few in our industry who have been as passionate about our industry or have made such an impact as Peter, and his work has provided us with this opportunity to embark on the next stage of our journey and step into an environment of change and innovation."
Victoria Coster — founder, chief executive officer and credit repair specialist at Sydney-based Credit Fix Solutions, and long-time support and sponsor of the FBAA — added to Australian Broker: "the foundation built during Peter White’s tenure has been exceptional. His strong advocacy for brokers, commitment to raising industry standards and focus on member value have played a significant role in where the FBAA stands today. Maintaining that momentum while continuing to innovate will be key."
As the FBAA prepares for its next chapter, attention is turning to the leadership team tasked with building on White's legacy.
Melbourne-based Gagic comes with nearly three decades of experience in Australia's mortgage and finance industries, including senior-level positions at Westpac, National Australia Bank (NAB), Liberty Financial and Telstra. Most recently he served as chief executive officer of debt collection company Access Mercantile Services.
"I am thrilled to be joining FBAA as CEO, and look forward to working with members, partners, the board and the team to strengthen FBAA’s influence, increase member value and ensure it remains the leading voice for brokers across Australia," Gagic said.
Sherry, former federal minister, brings nearly 40 years of government experience, having been elected to Senate for Tasmania in 1990.
"Nick's appointment will bring a new level of experience and authority to the FBAA," the group said.
Sherry added: "I am honoured to be appointed to the FBAA board and look forward to working with the board, new CEO Leo Gagic and the members across Australia."
The FBAA has more than 14,000 broker members nationwide.
Coster described the leadership transition as "a really positive moment for the industry.
"Looking ahead, I believe the FBAA’s top priority under its new CEO should be continuing to elevate the professionalism and credibility of brokers, particularly as the lending landscape becomes more complex," she said. "This includes strong advocacy, ongoing education and ensuring brokers are well-equipped to support clients not just with lending, but with broader financial outcomes.
"I would also love to see a continued focus on collaboration across the industry, bringing together brokers, tech partners and educators to create better long-term outcomes for consumers," Coster continued. "Initiatives that support financial literacy, particularly at a grassroots level with younger Australians, are incredibly important and something I’m very passionate about."
