Stake appoints new chief

Jon Howie
Stake - Chief Executive Officer
Date: 12 January 2024
Position: Chief Executive Officer
By Elizabeth Fry

A former BlackRock executive has secured the top job at Stake, the ASX-listed trading platform, after founder Matt Leibowitz stepped down from the role.

After seven years at the helm, Leibowitz will become executive director and focus on Stake's product and business strategy.

Howie, who joined Stake as chief commercial officer last year, previously served as head of index equity at BlackRock and iShares Australia.

The incoming chief executive has also held leadership positions at Macquarie Bank and VGI Partners.

Stake - which has $2.9 billion in assets under administration - is backed by Tiger Global and DST Global.

Leibowitz said the platform has seen a 53 per cent rise in assets under administration, a 10 per cent year-on-year increase in active customers and a 20 per cent increase in trading volume on the ASX.

"Given the extent to which we've grown in recent years, I believe it's time to bring in new leadership to take us to the next level," Leibowitz said, adding that Howie had had an incredible impact as chief commercial officer over the past six months.

"I'm excited to continue driving new opportunities while ensuring that Stake remains a founder-inspired business for decades to come," Howie stated.