Raiz taps former BOQ head for board

Raiz Invest has added high-profile banker Stuart Grimshaw to its board as a director and chair of the audit and risk committee.

Grimshaw's most recent position was chief executive and director of EZCORP,  a Nasdaq-listed company that he joined in November 2014 as executive chair.

Before joining EZCORP, he was the chief executive of the Bank of Queensland.

During his career, Grimshaw has held executive roles at several international banking and finance companies including as group executive of investments and insurance at the Commonwealth Bank.

Previously, he headed up National Australia Bank's UK business and was responsible for NAB's Yorkshire and Clydesdale Banks.

Grimshaw has also served on several boards including Cash Converters International, Suncorp, and SIM Funds Management.

"Stuart brings a wide array of capital market and financial services experience, both as a senior executive and director, to the board," said Raiz chair Harvey Kalman. "The fact that EZCORP's operations had a significant presence in Latin America brings an added skill set at a time we are consolidating our Indonesian and Malaysia operations and are poised to enter the Thai market."

Grimshaw noted that Raiz is a great success story among the wealth management fintech start-ups in Australia. Not only has it established a firm foothold in the Australian market, he went on to say, but it has had the vision to take its micro saving and investing model to the high growth markets of Southeast Asia.

"I believe my experience accrued through many varied positions in financial services entities and geographies, over the past 35 years equip me to make an important contribution to the company."

Grimshaw will replace David Gordon on the Raiz board. Gordon David was instrumental in founding and guiding Instreet Investment with George Lucas in 2007, which in 2018 was restructured into Raiz Invest

"We cannot thank David enough for his service to the Company over the last 14 years," Kalman added.