ASX-listed Raiz Invest have advised that Brendan Malone (pictured) will step down as Managing Director and Chief Executive Officer and will be on gardening leave for the next 12 months.
Raiz Invest Chair Ms Kelly Humphreys said, “The Board has worked with Brendan to determine the right time and approach for leadership transition as Raiz enters its next phase of growth.
“On behalf of the Board, I thank Brendan for his contribution. Under his leadership we repositioned the company to focus on our core Australian operations and achieved steady growth, including in revenue, active customer numbers and funds under management. This growth has resulted in the company generating underlying net profits and cashflow, a major achievement during Brendan’s time as CEO.”
Brendan Malone said, “It has been a privilege to be part of Raiz from the very beginning and to serve as Managing Director and CEO for the last six years. Helping everyday Australians access investing, build financial literacy and work toward long-term financial wellbeing has been at the heart of everything we’ve done. I’m proud of what we’ve achieved together. I thank our people and our customers for their support and am confident Raiz is well positioned for the future.”
The Board confirms that Craig Keary will take up the position of Chief Executive Officer, commencing 1st June 2026 and will work with Brendan Malone during a 1-month handover period to transition leadership.
Craig Keary has been appointed after an extensive executive search process and brings broad experience in digital platforms and driving strategic growth across financial services organisations, including globally with HSBC, CBA, Westpac and AMP Capital. Prior to joining Raiz, Craig held the roles of CEO at Selfwealth, Ignition Wealth and most recently with Keyview Financial Group.
Ms Humphreys said, “The Board and I welcome Craig to the role and look forward to working with him to realise the company’s full potential and create long-term value for customers, investors and staff.”
Keary commented, “Raiz has built a trusted brand, a differentiated platform and a deeply engaged customer community. I believe we have an extraordinary opportunity to help millions of Australians build wealth, through accessible products and education and guidance delivered at scale. I am excited to partner with the Board and the talented Raiz team with a clear sense of ambition to accelerate growth and significantly expand our impact.”