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The Australian Finance Group Ltd has announced the recruitment of a new chief financial officer.
Luca Pietropiccolo has joined the Australian Finance Group (AFG) from Alinta Energy Limited where he currently holds the role of general manager finance, merchant energy. He will commence with this role as of 31 October 2022.
The chartered accountant brings more than 17 years of experience stretching across a breadth of finance disciplines such as accounting, mergers and acquisitions, strategy, capital management and leading the charge in high-performance finance teams in high-growth companies.
Prior to his appointment, Mr Pietropiccolo held senior finance positions at ASX-listed Wesfarmers Limited, where he has extensive experience over a diverse range of the group’s businesses.
AFG chief executive David Bailey said he is delighted to welcome Mr Pietropiccolo to the group.
“He has a successful track record in financial leadership and will bring strong commercial experience to the role,” Mr Bailey said.
“He will be a key contributor to our executive and a talented leader for our Finance team.
“As an experienced finance professional, Luca’s experience at top ASX listed companies will also help support AFG’s growth trajectory.
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“His strong financial and technical capabilities will make an important contribution to AFG as we continue to focus on executing our strategy and delivering long term, sustainable value creation for our shareholders.”
Record $1bn RMBS deal
AFG recently priced a billion-dollar residential mortgage-backed securities (RMBS) issue, setting a new record for the company.
The upsized AFG 2022-2 Trust Issue was AFG Securities’ 15th transaction since 2013, which took the total paper issued to the market by AFG Securities to $7.5 billion.
Mr Bailey said at the time: “This is our largest issue to date, upsizing from $500 million to $1 billion thanks to the support of both domestic and international investors.
“In a challenging market, this result is a testament to our depth of understanding of the market and structure of our book to ensure we bring high quality, reliable paper to investors.
“AFG Securities offers an exceptional lending alternative with industry-leading credit quality delivering a sound investment opportunity to the securitisation market. The upsizing of this transaction to $1 billion clearly demonstrates that value.”
Mr Bailey also noted at the time that mortgage brokers have once again increased their market share and are continuing to be the dominant channel in the Australian home lending market.
[RELATED: AFG prices record $1bn RMBS deal]
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