FMT's Tony Kinzett to retire

Michael Smith, the chairman of First Mortgage Managers, owner of First Mortgage Trust, said: "During his fifteen years as CEO of First Mortgage Trust, Tony has led the business through significant change and growth. When Tony came into the role in 2006, the investor fund size was $280 million. By comparison, we now have over $1 billion in the Trust, with nearly 5,000 investors on-board."

Smith added: “To achieve this, Tony has built a strong team around him, plus he has developed a loyal investor base, and a national network of quality advisors who advocate for First Mortgage Trust and bring quality lending opportunities to us."

Kinzett said it was the right time for the business to transition to new leadership.

"When I look back over my time at the helm, I reflect on the good times but also on the harder times like the Global Financial Crisis and the Covid-19 pandemic. It’s during these tough times that you see the true calibre of those around you, and I couldn’t be prouder of the people I had around me on both those occasions” he added.

A selection process is underway to select Kinzett's successor. No set date was given for Kinzett's retirement, but Smith said a replacement would be appointed before he stepped down. 

“Everyone is committed to a seamless transition, so we are embarking on the process with that end goal in mind. Tony is very much committed to the Trust’s ongoing wellbeing, so it’s very much a ‘business as usual’ approach that will be Tony’s legacy,” Smith added.