The Board announced that George Lucas, current Managing Director and Joint Group CEO (International), will be leaving the organisation, effective from 31 December 2022. Mr. Lucas founded Raiz based on his foresight in recognising an opportunity to provide online wealth accumulation products to small investors via the Acorns platform. Acorns, a specialist micro-investment company launched in the US in 2012, was recognised by Mr. Lucas in 2014 as an innovative opportunity to bring micro-investing to the Australian market.

The Board announced that Brendan Malone, currently Joint Group CEO (Australia) will take on the role of Managing Director and CEO and will assume responsibility for all Raiz offices. The Executive changes will take effect from 26 September 2022 to enable an orderly transition.