PBT chair accepts ‘full responsibility’ after trust's turbulent year

Chairman Uluomato’otua Saulaulu Aiono says the Pacific Business Trust (PBT) board takes “complete responsibility” for the organisation’s turbulent year, as it works to rebuild trust after leadership upheaval and public scrutiny.

The government-funded organisation receives around $5.8 million of annual Government funding and supports more than 2000 Pacific-owned businesses across New Zealand, generating more than $1 billion in revenue.

Former chief executive Mary Lo’se resigned last month after a turbulent period that also included payouts to two former staff, after a mishandled restructuring process.

Aiono, who was appointed chair in November 2025, says responsibility sits with the board.

“The board is the employer of the chief executive, and the board, past and present, including the one that I chair, takes complete responsibility,” Aiono told William Terite on Pacific Mornings.

Changes are already underway, including PBT’s move from Penrose to Manukau, reducing rent and operating costs by about $150,000 a year.

Listen to Uluomato'otua Saulaulu Aiono's full interview below.

PBT’s new strategic plan, covering 2026 to 2030, begins on 1 July, with head of operations Tracey Alenepi appointed interim chief executive while recruitment begins for a permanent CEO.

Aiono says public scrutiny is necessary and criticism can drive change.

“There is no better place for it to play out. Accountability must be public. That’s exactly where these things should be evident to taxpayers.

Tracey Alenepi, Pacific Business Trust head of operations, is the interim CEO. Photo/PMN News/Khalia Strong

“Our role at Pacific Business Trust, starting with the board and management, is to listen constructively to understand. Without listening to understand, nothing changes.”

Improving Pacific businesses’ access to capital is a major priority, with PBT exploring a Pacific-focused capital or venture fund to help businesses scale, similar to the Icehouse.

Aiono says stronger Māori-Pacific partnerships could also help unlock investment, pointing to iwi as long-term strategic investors.

“My question is, what are examples where iwi and Māori have invested in Pacific-orientated businesses? The answer is not many, but it’s coming.”

But some Pacific business leaders say rebuilding trust will take time.

The new Pacific Business Trust office in Manukau, above the local library. Photo/PMN News/Khalia Strong

Laura Keil-Hall, founder and chief executive of the Pacific Business Hub, says the trust has faced longstanding credibility issues, with many businesses feeling excluded.

“They haven’t had a good reputation, with a lot of historical challenges. There wasn’t a lot of transparency or accountability from them in the past,” she tells PMN News.

“I’ve been in this space for about 15 years and observed different leaders come through the Trust. I felt they weren’t doing the job they were supposed to do, but I’m very happy to see movement in the last few months, so I think they’re on the right path.”

Keil-Hall says she is encouraged by the new board and PBT’s move to Manukau.

“Finally, they’ve come to Manukau, because I think where they were before was inaccessible to our people.

“We’re a small community, and even smaller when it comes to our businesses, so we need to work together, support each other and uplift each other, because it’s our people who suffer if we don’t.”

Laura Keil-Hall, founder and CEO of Pacific Business Hub, says trust must be rebuilt with the community. Photo/PMN News/Khalia Strong

Rachel Afeaki, chair of the Waikato Pacific Business Network, says stronger regional engagement will be essential if PBT wants to unlock more capital and support growth outside Auckland.

She tells PMN Pacific businesses outside Auckland have been forgotten in the past.

“What does it mean to be national if you’re not authentically engaged with your regions?”

PMN has approached the Minister for Pacific Peoples, Paul Goldsmith, for comment.

As PBT looks to reset under new leadership, both supporters and critics agree its success will depend on whether it can rebuild trust and deliver meaningful results for Pacific businesses.