In a major move for the firm, Stake has appointed Geoff Lloyd to chairman of its board, adding over 30 years of experience to the platform’s leadership.
Notably, Mr Lloyd served as chief executive officer and managing director of Perpetual between 2012 and 2018, and chief executive officer of MLC between 2018 and 2020.
He was also chairman of the Australian Financial Services Council for four years and has previously held positions at the Australian Securities and Investments Commission, St George Bank, and BT Financial.
Having formally joined the board in February, the firm said Mr Lloyd will provide “senior counsel to Stake’s leadership team, helping the business to maintain exceptional standards and unlock maximum value as it grows”.
“Geoff is one of the most knowledgeable figures in the Australian finance industry, with an outstanding track record of helping companies to grow responsibly,” said Matt Leibowitz, CEO and co-founder of Stake.
“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.”
Commenting on his appointment, Mr Lloyd added: “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,” he concluded.
The news comes after a successful year for the brokerage platform, which now has over $2 billion in assets under administration.
