MFF Capital Appoints CEO Gerald Stack, Proposes 10 Cent Dividend

Leadership Transition at MFF Capital

MFF Capital Investments Limited has announced a significant leadership change with Gerald Stack stepping up as Chief Executive Officer and Managing Director from 1 January 2026. Stack, a seasoned financial services executive with over three decades of experience, brings a wealth of expertise from his 18-year tenure at Magellan Asset Management, where he managed a global infrastructure portfolio exceeding $16 billion.

His recent role as Head of Investment Management at MFF since September 2025 positioned him well to take on the top leadership role. The company’s Chairman, Annabelle Chaplain, praised Stack’s ability to build high-performing teams and enhance investment processes, highlighting his instrumental role in developing MFF’s internal capabilities and the Montaka Global Investments team.

Strategic Continuity and Growth

Chris Mackay, who remains on the board and assumes the role of Executive Director Investments & Capital, will continue to focus on managing MFF’s substantial investment portfolio, currently valued at approximately $3.1 billion. This leadership structure aims to balance continuity with fresh strategic momentum as MFF strengthens its internal operations and investment capabilities.

The company has seen a notable expansion in its workforce, growing from a single employee to 16 full-time staff, reflecting its commitment to building robust internal teams. MFF’s investment approach remains disciplined, with a focus on portfolio quality, liquidity, and active risk management across diverse markets and asset classes.

Dividend Increase Signals Confidence

Alongside the leadership update, MFF announced a proposed fully franked dividend of 10 cents per share for the six months ending 31 December 2025. This represents an increase from the 9 cents per share paid in October 2025 and the 8 cents per share from the same period last year. The dividend growth underscores MFF’s strong balance sheet and consistent ability to generate shareholder returns through both realised gains and franking credits.

Stack’s employment terms include a fixed remuneration of $900,000 per annum, with substantial short-term and long-term incentives tied to performance, reflecting the company’s confidence in his leadership to drive sustainable growth.

Looking Ahead

MFF plans to host a shareholder briefing in the first quarter of 2026, led by Stack and Mackay, to provide updates on portfolio performance and business strategy. Investors will be watching closely to see how the new leadership team navigates market challenges and capitalises on growth opportunities in the evolving financial services landscape.