Stake Appoints Geoff Lloyd as Chairman as it Doubles Down on Long Term Growth
Former Perpetual and MLC CEO joins Stake as Chairman of the Board, bringing over 31 years of experience to the senior leadership team
SYDNEY, 7 June 2023 — Australian brokerage platform Stake has appointed Geoff Lloyd as Chairman, as it strengthens its position as the home for ambitious investors.
Lloyd brings extensive leadership experience from CEO roles at Perpetual and MLC, his tenure as Chairman of the Australian Financial Services Council, and previous positions at ASIC, St. George Bank and BT Financial. He will provide senior counsel to Stake’s leadership team, helping the business to maintain exceptional standards and unlock maximum value as it grows.
Geoff Lloyd, Chairman of the Board at Stake comments, “Stake has been breaking barriers for investors since 2017, but this is only the beginning. It boasts an exceptional leadership team, strong growth metrics, smart allocation of capital and an outstanding product that means it’s equipped to meet the needs of ambitious investors now and in decades to come. I’m passionate about helping people to grow their wealth, and excited to see the impact I can have as part of the Stake team.”
The news comes after a successful year at Stake, which has reached over $2billion in assets under administration, over $480 million in total inflows through its innovative Portfolio Transfer tool, 57% year-on-year customer growth for its ASX product, and strong annual revenue. The Investment Trends H2 2022 report recognises Stake as the largest Australian broker for U.S. shares, and the most widely recommended by customers.
Matt Leibowitz, CEO and cofounder of Stake said, “Geoff is one of the most knowledgeable figures in the Australian finance industry, with an outstanding track record of helping companies to grow responsibly. His values align with Stake’s mission perfectly and he will offer incredible value as we continue to mature. We’re honoured to have him on the Stake team and look forward to driving even better customer outcomes.”
ENDS
About Stake
Stake was founded in Australia in 2017 with a mission to break barriers for ambitious investors. Since its launch, Stake has attracted over 500,000 customers by providing seamless access to the U.S. markets, CHESS sponsored ASX trades, and Stake Super — an intuitive, hassle free SMSF platform. Stake completed a $90 million Series A funding round in May 2022 and is backed by major investors including Tiger Global and DST Global.