L1 Group Appoints Former FleetPartners Executive as Chief Financial Officer
L1 Group appoints former FleetPartners executive as new CFO
L1 Group (ASX: L1G) has appointed James Allaway as Chief Financial Officer, succeeding Andrew Stannard. Allaway joins from ASX-listed FleetPartners, where he served as Chief Strategy Officer, and brings senior investment banking experience from UBS. He will commence in September 2026 and be based at L1 Group’s Melbourne head office.
Allaway holds a Bachelor of Engineering and a Bachelor of Commerce from the University of Sydney. His appointment follows the merger between L1 Group and Platinum Asset Management.
CEO and Managing Director Julian Russell highlighted Allaway’s credentials:
Julian Russell, CEO and Managing Director
“James brings a rare combination of financial, strategic and operational expertise, with a strong track record across M&A, capital markets and corporate strategy. I am delighted to welcome him into our team and look forward to working with him as we continue to execute on our growth strategy.”
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What does a CFO do and why does the appointment matter?
A Chief Financial Officer oversees a company’s financial strategy, capital allocation, financial reporting, and typically supports merger and acquisition activity. For L1 Group, following its merger with Platinum Asset Management, strong financial leadership is critical for integration and executing growth initiatives.
Allaway’s background in M&A, capital markets, and corporate strategy aligns with the demands of managing a newly merged entity. His experience at FleetPartners and UBS provides the technical and strategic skillset required to support capital deployment decisions and potential further corporate activity.
Outgoing CFO Andrew Stannard’s contribution
Andrew Stannard has served as Finance Director at Platinum Asset Management since 2015 and became Chief Financial Officer of L1 Group following the merger. During his tenure, he oversaw Platinum’s finance and operational functions and led the integration of both businesses’ finance teams.
Stannard will transition to an advisory role from September 2026 to support the handover, departing L1 Group in early 2027. The structured transition is designed to ensure continuity during the CFO changeover.
Russell acknowledged Stannard’s contribution:
Julian Russell, CEO and Managing Director
“Andrew has made a significant contribution to both Platinum and L1 Group. His leadership through the merger and his financial management of the business have been outstanding. On behalf of the Board and management, I thank Andrew for his contribution and commitment and wish him every success.”
The advisory period minimises operational disruption as Allaway assumes the CFO role, allowing for knowledge transfer and continuity in financial reporting and strategic planning.
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Leadership continuity as L1 Group executes growth strategy
The appointment forms part of L1 Group’s post-merger evolution, with the leadership team focused on executing the growth strategy outlined by management. Allaway’s credentials position him to support the company’s strategic objectives:
- Former Chief Strategy Officer at FleetPartners (ASX-listed)
- Senior investment banking background at UBS
- Engineering and Commerce qualifications from the University of Sydney
The hire reinforces management’s commitment to growth execution and suggests the company is building a leadership team suited to active corporate development.
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