The long-serving managing director of the broker association is stepping down from his leadership role at the body.
Peter White AM, the managing director of the Finance Brokers Association of Australia (FBAA), has handed in his resignation and will be retiring from his leadership position at the broker body.
The long-serving leader of the FBAA has decided to retire from his leadership position at the broker association, ending more than two decades of service to the broker association.
He will officially leave the role once a successor has been appointed and will work with the association during his handover.
Confirming his departure from the FBAA, White said: “It’s been an amazing journey. I’ve met countless lifelong friends, and I’ve had the privilege of being a part of the tremendous growth and impact of the FBAA.”
“Today our association is a leading voice for our sector, respected by those at the highest levels of government and industry, and sought by national media for commentary due to our credibility and expertise,” he said.
White added that “change is not only good but necessary for any organisation” as it brings new ideas and fresh vision.
Calling the FBAA’s efforts to combat the “unfair recommendations” of the banking royal commission as one of the association’s greatest achievements, he thanked “the many who have served” on its national board, state teams, staff, and ”the thousands of brokers across the nation who support the association”.
A legacy of broker advocacy
White, who was formerly a finance broker and first joined the FBAA as a volunteer in 2003, has led the association through a period of significant regulatory change and growth, spending more than 15 years in senior leadership roles (including as national president and CEO before becoming managing director) and over 23 years with the organisation overall.
With more than 45 years’ experience across banking, mortgage broking, private banking and business ownership, White cut his teeth in banking for CBA on Sydney’s northern beaches, before helping to establish the first branch for RAMS Home Loans and was the first CEO of Wizard Home Loans.
He has been a prominent figure in industry policy discussions, working closely with government, regulators, and international counterparts to shape the future of broking.
White has served as an appointed member of the FBAA board since 2016 and held a wide range of senior responsibilities, including membership of the finance, audit, investment and remuneration committee, governance committee, nomination and membership committee, and education committee.
During his tenure, White has helped build the FBAA’s standing as a professional industry body, regularly engaging with federal and state governments on key regulatory and legislative reforms affecting brokers and consumers – including the Best Interests Duty, fair broker commissions, and advocating for the removal of clawback.
He has also been a staunch defender of the broker channel in both industry and mainstream media.
In addition, he has played a key role in shaping the conversation around lending, chairing multiple industry forums, including the Commercial, Asset & Motor Forum and the Concierge Advisory Forum, and was a member of the Equity Release Advisory Forum.
Internationally, White has played a leading role as the inaugural chair of the global board of governors for the International Mortgage Brokers Federation (IMBF), helping to promote best practice and professional standards for brokers worldwide.
In recognition of his service to the finance sector and the broader community, White was appointed a Member of the Order of Australia (AM) in the Queen’s Birthday Honours List in 2019 for outstanding achievement and merit in services to the finance sector for over 41 years.
White has also been widely recognised for his advocacy beyond regulation, particularly his efforts to raise awareness of mental health issues within the finance and broking professions and spearheaded the launch of the FBAA’s Wellness Hub platform.
He is the founder of The Sanity Space Foundation, a charitable organisation supporting parents of children with special needs, and has also been an advisory board member of the Small Business Association of Australia.
‘He will be missed by many’: FBAA
The FBAA confirmed White’s departure on Friday (13 February), acknowledging his long-standing contribution to the mortgage and finance broking industry and his tireless advocacy on behalf of members at both a domestic and international level.
FBAA chairman Brett Spencer commented that the decision was a “difficult one for all” but said he believes the “time is right for him and the FBAA”.
Spencer said: “Peter has been a general for this association for over 20 years, and – like all retiring leaders – he will be missed by many.”
He hailed the success of White’s long tenure and said the FBAA would build upon his legacy to ensure a bigger and stronger association for its over 14,000 members and the industry as a whole.
The FBAA said members would be kept abreast of future leadership arrangements, with a member update expected next week.
[Related: FBAA announces new chairman]
