Geoff Lloyd to chair Stake

Geoff Lloyd
GEOFF LLOYD
Stake - Chair
APPOINTMENT
STAKE
Date: 5 June 2023
Position: Chair
By Andrew McKean

Former Perpetual and MLC chief executive Geoff Lloyd has been appointed as chair of Stake.

In October 2020, after a two-year tenure at the helm of MLC, Lloyd departed following the company's agreement to be acquired by IOOF. This period also marked his departure from the role as chair of the Financial Services Council.

Since then, Lloyd has spent time collaborating with and investing in fintech start-ups both locally and internationally.

In his new role at Stake, Lloyd will provide senior counsel to the executive team, assisting the brokerage platform in sustaining "exceptional standards" and "unlocking maximum value" on growth opportunities.

Stake chief executive Matt Leibowitz 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."

Lloyd also signaled his eagerness to leverage his expertise within Stake.

"Stake has been breaking barriers for investors since 2017, but this is only the beginning," Lloyd said.

"It [Stake] 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."

Lloyd's appointment comes on the back of a strong year for Stake. The brokerage platform has reached $2 billion in assets under administration and brought in over $480 million in total inflows through portfolio transfers.

According to an Investment Trends report, Stake is also the largest Australian broker for US shares.

Lloyd is currently also chair of DASH Technology Group and not-for-profit The Fathering Project.