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A seasoned financial services consultant and product officer has joined the non-bank lender as its new chief financial officer.
SME lender Banjo Loans has appointed Paul Pesavento as its new chief financial officer (CFO).
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Pesavento has more than 30 years of experience in the finance industry, including 11 years at National Australia Bank (NAB) - where he was head of business design for the program management office and had been responsible for designing the business solution of NAB’s core banking platform.
He also previously served as the chief product and data officer of non-bank lender Moula for four years and for business-to-business payment fintech platform Leda Universal.
The new CFO commenced in his position in February 2024, following the retirement of former CFO Andrew Fitzpatrick (who stepped down due to family commitments after five years in the role).
Guy Callaghan, Banjo’s chief executive, said: “Andrew did a fantastic job for Banjo during a high period of growth for the business and while we’re sad to lose him we wish him all the best on his next adventure.”
Speaking on Pesavento’s appointment, Callaghan commented: “Paul brings a wealth of experience to this role, having held multiple senior leadership roles across a number of extremely well-regarded organisations.
“We’re really excited to have Paul join the team and we’re confident he will open up some really exciting markets and expose Banjo to a lot of new opportunities.
“Through his work across multiple sectors, Paul brings the crucial ability to support small- to medium-sized enterprises as they navigate the challenges that running a business has to offer.”
Pesavento said he was “excited” about his new role, in which he will be responsible for “[removing] roadblocks for small businesses to reach their business goals” according to Banjo.
He continued: “It’s incredibly important for workplaces to embrace new technologies and use them for productivity benefit.
“Banjo is the perfect place to harness my previous experience and I’m incredibly excited to work with so many visionary small- to medium-sized businesses.”
The announcement came as Banjo released its SME Compass Report 2024 that found that fewer SMEs are planning to use a finance broker in 2024.
[Related: Fewer SMEs expect to use brokers this year, finds survey]
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