Raiz Invest announces a leadership change with Brendan Malone stepping down as CEO and Craig Keary taking over, signalling a new chapter for the fintech amid steady growth.
- Brendan Malone steps down with gardening leave until May 2027
- Craig Keary appointed CEO starting 1 June 2026
- Keary brings extensive financial services and digital platform experience
- Malone eligible for minimum $100,000 short-term incentive
- Keary’s remuneration includes fixed salary and performance incentives
Leadership Transition Marks New Phase for Raiz
Raiz Invest Ltd (ASX:RZI) is turning the page on its leadership chapter with Brendan Malone stepping down as Managing Director and CEO. Malone will be on gardening leave until 29 May 2027, allowing for a gradual handover to his successor. The timing of the transition reflects the Board’s view that Raiz is entering its next phase of growth, building on the foundations established under Malone’s stewardship.
Chair Kelly Humphreys acknowledged Malone’s role in repositioning Raiz to focus on its core Australian operations, highlighting steady growth in revenue, active customers, and funds under management. This growth trajectory culminated in the company generating underlying net profits and positive cashflow, milestones that underscore the fintech’s maturation during Malone’s six-year tenure.
Craig Keary Steps Into CEO Role With Strong Financial Services Background
Craig Keary takes the helm as CEO from 1 June 2026, following an extensive executive search. Keary arrives with a broad portfolio of experience across digital platforms and strategic growth initiatives at major financial institutions including HSBC, Commonwealth Bank, Westpac, and AMP Capital. His recent CEO roles at Selfwealth (ASX:SWF), Ignition Wealth, and Keyview Financial Group position him well to lead Raiz’s next growth chapter.
Keary expressed enthusiasm about Raiz’s trusted brand, differentiated platform, and engaged customer base. He emphasised the opportunity to help millions of Australians build wealth through accessible investment products, education, and scalable guidance. His appointment signals a strategic intent to accelerate growth and expand Raiz’s impact in the competitive fintech landscape.
Incentive Structure Reflects Performance Expectations
Details of Keary’s employment agreement reveal a total fixed remuneration of $500,000, encompassing base salary and superannuation. He is eligible for short-term incentives (STI) with a target of 33.5% of base salary and a maximum of 50%, contingent on individual and company performance as determined by the Board. Long-term incentives (LTI) offer a target opportunity of 48.75% and a maximum of 75% of base salary, with performance milestones set annually.
Malone remains eligible for a short-term incentive for the 2026 financial year, with a guaranteed minimum payment of $100,000 as part of his exit arrangements. The Board’s approach to incentives underscores a performance-driven culture aligned with shareholder value creation.
Strategic Implications and Next Steps
The leadership change comes on the back of Raiz’s recent solid financial performance, including a 24% revenue increase and a return to profitability in the first half of FY26, driven by growth in active customers and funds under management. The fintech’s focus on digital innovation and customer engagement has positioned it to capitalise on evolving market opportunities.
Keary’s appointment raises questions about how Raiz will navigate competitive pressures and execute on its growth ambitions amid a fast-changing fintech environment. Investors will be watching closely for strategic updates and operational shifts under the new CEO, especially as the company seeks to deepen its market penetration and product offerings.
Bottom Line?
Raiz’s CEO handover sets the stage for a strategic growth push, but the impact of Keary’s leadership on performance will unfold over the coming year.
Questions in the middle?
- How will Craig Keary’s leadership style influence Raiz’s strategic priorities?
- What specific growth initiatives will Raiz pursue under the new CEO?
- How will the fintech maintain momentum amid increasing competition?