Stash names Liza Landsman its next CEO

Stash will soon have a new CEO.

On Thursday, the investing and banking app provider announced that independent board member Liza Landsman would take over as chief executive Feb. 6. Most recently, she served as general partner at the venture capital firm NEA. Previously, she was president of Jet.com from its launch through to its acquisition by Walmart, and has held positions at Citigroup, BlackRock and E-Trade. 

Co-founder and former CEO Brandon Krieg will shift to a new role, head of business development, and incubate Stash's new business-to-business unit, which will focus on employers. Co-founder and president Ed Robinson will retain his position and title. 

Landsman's "experience and knowledge of consumer products, e-commerce and fintech is ideally suited to the opportunities ahead," Krieg said in a press release. 

In a blog post elaborating on the move, Krieg added: "She has seen a company hyperscale; she's operated in consumer and financial services successfully. Liza is what Stash needs now and into the future." 

The company reports that revenue grew nearly 30% in December 2022 over December 2021. In September it announced that it had built its own core system and that a patent for its Stock-Back debit card, which lets users earn rewards in the form of stock of companies from which the customer is making purchases, was approved. 

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At the same time, the company has not been immune from widespread layoffs in the banking and fintech world. In December, it announced that it would lay off 8% of its staff. "After carefully watching market conditions and listening to our team's feedback, we determined that this is the right choice to evolve our business and serve our millions of customers," it said in announcing the decision.

Stash's underlying banking services are provided by Stride Bank in Enid, Oklahoma, which has $2.5 billion of assets.