Stake, the Australian investment platform, is set to commence its next chapter of growth under new leadership as it announces the appointment of Jon Howie as its Chief Executive Officer (CEO). Joining the Stake team as Chief Commercial Officer in 2023, Howie has made significant contributions in the last six months, building on an impressive two-decade career in financial services which included leadership roles at Blackrock APAC, Macquarie Bank and VGI Partner.
Meanwhile, Matt Leibowitz, who has led the company as CEO for seven years since its inception in 2017, will transition to the role of Executive Director. There, he will continue to influence the company's product and business strategy significantly. Under Leibowitz's leadership, Stake has catalysed ambitious investors by breaking barriers and building an expansive customer base across Australia, New Zealand and the UK. The firm has also managed $2.9 billion in assets.
Speaking about the changes at the helm, Matt Leibowitz stated, "Since 2017, Stake has had a profound impact in helping more people to engage with their finances and I'm incredibly proud of what our team has achieved. 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."
Leibowitz expressed his confidence in Howie's leadership, remarking, “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."
Taking the helm at a time of strong growth for Stake, Howie joined the company during a successful year with a $1 billion increase in assets under administration, a 10% year-on-year increase in active customers, a 53% increase in assets under administration and a 20% increase in trading volume of ASX shares on Stake.
Reflecting on his appointment as CEO, Jon 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."
The transition of roles comes as Stake continues its strides in breaking barriers for ambitious investors since its inception, aiming to serve better the financial outcomes of its customer base which stretches across Australia, New Zealand, and the UK. The company’s focus remains dedicated to creating opportunities and ensuring that Stake maintains its founder-inspired drive for the foreseeable future.