Stake appoints new CEO as it scales to greater heights

SYDNEY, 12 January 2024 — Stake, the Australian investment platform, has appointed Jon Howie to the role of CEO, to lead the business into its next chapter of growth. Howie, who joined Stake as Chief Commercial Officer in 2023, has over 20 years of financial services experience, spanning leadership roles at Blackrock APAC, Macquarie Bank and VGI Partners. 

Stake was launched by Matt Leibowitz and Dan Silver in 2017 to break barriers for ambitious investors, and has since built a customer base across Australia and New Zealand with $2.9 billion in assets under administration. After seven years as CEO, Leibowitz will transition to the role of Executive Director and continue to shape Stake’s product and business strategy.

Matt Leibowitz, Founder and Executive Director at Stake said, “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.”

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

The news comes following a year of strong growth at Stake, which has seen a $1Billion 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.

Jon Howie, CEO at Stake 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.”

ENDS

About Stake

Stake was launched in Australia in 2017 with a mission to break barriers for ambitious investors. Stake has grown to over $2.9 billion in assets under administration by providing seamless access to the U.S. markets, $3 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.