Stake names new chief executive

15 January 2024
| By Rhea Nath |
image
image
expand image

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.

 

Read more about:

AUTHOR

Add new comment

The content of this field is kept private and will not be shown publicly.
 

Recommended for you

 

MARKET INSIGHTS

sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry

Squeaky'21

My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

6 days 21 hours ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

6 days 21 hours ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

1 week ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

9 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 1 week ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND