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Long-serving Thinktank executive Peter Vala has announced he will be moving into “semiretirement” at the end of the month.
Following a 42-year career in finance and 12 years with non-bank lender Thinktank, Vala has announced he will semiretire on 31 March.
Thinktank’s Property Finance’s general manager of growth and strategy will transition into semiretirement over the next few weeks, taking a step back from full-time employment to “pursue targeted engagements”.
Vala has had a long career in banking and finance, spanning numerous roles across major and non-major financial institutions including ANZ, St.George, ME Bank, and BNZA (NAB).
He joined Thinktank in June 2013 and has, over that time, played a pivotal role in shaping the company’s trajectory and building its book.
The lender said that over his tenure at the non-bank, Vala had helped drive its expansion from $600 million in aggregate lending to $13.5 billion today.
He has also been a passionate mentor and coach, having educated hundreds of industry professionals on mortgage and commercial lending through countless events, webinars, and public speaking engagements.
Thinktank said his leadership had been “key in building and developing a dedicated team of relationship managers and fostering incredibly strong connections with aggregator partners”, including the initiation and development of multiple white label partnerships.
Thinktank CEO Jonathan Street acknowledged Vala’s legacy, saying: “Pete’s drive, ethics and leadership have been instrumental in making Thinktank the company it is today.
“Looking back on the past 12 years, it’s truly remarkable to see how far we’ve come and how well-positioned we are for what lies ahead. As Pete embarks on his next chapter, we extend our deepest gratitude for his many invaluable contributions, including over the last year in focusing on growth and strategy opportunities while managing the smooth handover to new leadership.”
Reflecting on his journey, Vala said it had been “an absolute pleasure and a true blessing to work alongside so many incredible people in this industry”.
“I sincerely hope the future remains bright for all,” the outgoing general manager of growth and strategy said.
“A heartfelt thank you to Thinktank for the past 12 years and the opportunity to contribute to its success. I am also deeply grateful to my past employers for their guidance and the many opportunities that have influenced my career."
Street confirmed that Belinda Wright, who was last year promoted to the role of head of partnerships and distribution, will take over from Vala.
He said that Wright had already been leading the commercial and residential sales team alongside aggregator partnerships, closely supported by Joel Harrison, the national manager for commercial partnerships.
“Belinda has consistently demonstrated exceptional capability, and will no doubt continue to build on the great foundations laid by Pete that will strengthen relationships and elevate the business further,” the Thinktank CEO said.
[Related: Thinktank appoints new head of distribution]
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