Stake names new chief executive

stake platforms online trading

15 January 2024
| By Rhea Nath |
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Jon Howie, Stake’s chief commercial officer, is set to take up the role of chief executive at the Australian investment platform.

He takes over the reins from founder Matt Leibowitz who will transition to the role of executive director and continue to shape its business and product strategy.

Howie, who has been with the firm since August 2023, brings over two decades of experience in financial services to the role. This includes over eight years at BlackRock, including three years as head of iShares Australia and two years as managing director, head of index equity, APAC.

Prior to joining Stake, he served as the CEO of VGI Partners, a high conviction, global long/short equity manager within Regal Partners, for a year.

He also spent three-and-a-half years at Macquarie Bank.

Commenting on the appointment, Howie said: “Stake is an amazing business, driven by a clear mission to deliver better outcomes for ambitious investors.

“Over the past six months, I’ve been inspired by Matt’s incredible passion for Stake’s customers, products and team members, and the level of professionalism and expertise across the organisation.

“I’m excited to continue driving new opportunities, while ensuring that Stake remains a founder-inspired business for decades to come.”

Stake, launched by Leibowitz and Dan Silver in 2017, has $2.9 billion in assets under administration and a customer base across Australia, New Zealand and the UK.

It has reportedly seen a $1 billion increase in assets under management in the last year and a 10 per cent year-on-year increase in active customers. It has also reported a 20 per cent increase in trading volume of ASX shares on the platform.

Commenting on the executive changes, Leibowitz said: “Given the extent to which we’ve grown in recent years, I believe it’s time to bring in new leadership that can take us to the next level. 

“Jon shares our passion for encouraging better financial customer outcomes, plus an outstanding track record in scaling large financial services businesses.

“He’s had an incredible impact as chief commercial officer over the past six months, and I’m excited to work with him in his new role as CEO,” he said.

 

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