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The chief executive of Pepper Money, Mario Rehayem, has been named as the new chair of the finance industry association.
The Australian Finance Industry Association (AFIA) has appointed Rehayem, the CEO of non-bank lender Pepper Money, as its new chair.
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The body – which is made up of more than 150 members (including bank and non-bank lenders, fintech, finance companies, etc) – advocates continued innovation in the finance industry.
The association collaborates with government bodies, regulators, and its members to promote competition and innovation and provides “new policy, data, and insights” to support its advocacy work.
Rehayem began in his role as AFIA chair on 1 March, taking over the role from Peter Jones, who has completed his tenure as chair. Jones has been chair since 2020 and has been a member of the AFIA board since 2017.
The CEO of AFIA, Diane Tate, commented on Jones’ role as chair, stating: “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.
“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.”
Rehayem has more than 20 years of experience in banking and financial services and has been serving as the CEO of Pepper Money since 2017.
Speaking of his appointment as AFIA chair, Tate stated: “We are delighted to welcome Mario as our new chair. His appointment comes at a pivotal time for AFIA as we navigate a dynamic economic, regulatory and technological landscape.
“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.”
Speaking of his new role, Rehayem commented: “I am privileged to have been elected as chair of this highly regarded organisation, which serves as the authoritative voice for propelling a world-class finance industry.
“I look forward to working alongside the experienced board of directors who collectively share AFIA’s vision to champion a thriving finance industry while acting in the interests of Australian customers and communities.”
AFIA’s priorities in 2024 will include promoting competition across the finance and driving innovation, according to Rehayem.
He continued: “The Australian finance industry plays a vital role in ensuring Australia has a strong and vibrant economy.
“My priorities are to continue to drive innovation and competition across the finance industry and to ensure it remains focused on putting Australian customers first.”
The appointment came after Rehayem and his two sons announced their participation in the World’s Greatest Shave in 2024 to raise funds for the Leukaemia Foundation.
[Related: Pepper Money CEO takes the shave again]
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