GBST MD to retire

GBST's managing director and chief executive, Stephen Lake, has announced he will be retiring after 14 years at the helm.

The wealth administration and software for capital markets provider said Lake will be fully involved in the selection of a successor and handing over his responsibilities.

Lake has served GBST since 2001 and will leave the company in 2016 when the handover is complete.

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GBST chairman, John Puttick, said: "Stephen has made an enormous contribution both through his strategy which has enabled GBST to become an international company, and securing some of the world's top banking institutions and financial services companies as long-term clients."

"He now believes that the time is right to transition to a new senior executive to lead the company's further global expansion, and we wish him well for the future," he said.

Puttick said the board had appointed a leading international executive search firm and will be reviewing a list of internal and external candidates in Australia and internationally.

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