Klevo Hires Banking Veteran to Lead M&A and Strategic Investments Push
Klevo appoints Andrew Shi as Executive Director and Chief Investment Officer
Klevo Rewards Limited has appointed Andrew Shi as Executive Director and Chief Investment Officer, effective 10 June 2026. The dual appointment strengthens the ASX-listed rewards, loyalty, and payments technology company’s strategic investment and corporate finance capability as it advances its next phase of growth. The role aligns with Klevo’s strategy to build a stronger execution platform across its payments, digital wallet, card-linked technology, and broader financial services initiatives.
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What a Chief Investment Officer brings to a fintech company
A Chief Investment Officer oversees strategic capital deployment and long-term value creation within a corporate structure. The role differs from a Chief Financial Officer, who typically focuses on financial reporting, compliance, and day-to-day treasury management. A CIO concentrates on identifying and executing growth opportunities, allocating capital across business lines, and leading corporate development activities such as mergers, acquisitions, and strategic partnerships. For fintechs at Klevo’s stage, a dedicated CIO signals intent to pursue growth through strategic investments and transactions rather than relying solely on organic expansion.
Andrew Shi’s experience across banking and capital markets
Shi brings over a decade of experience in financial services to the role. His background spans multiple disciplines directly relevant to Klevo’s payments and fintech strategy:
- Banking
- Funds management
- Mergers and acquisitions
- Corporate finance
- Capital markets
The appointment positions Klevo to leverage Shi’s global investment and corporate finance expertise to drive strategic growth, disciplined capital allocation, and long-term value creation across the Group’s investment and development portfolio. His M&A and capital markets background suggests capability to execute transactions and partnerships as the company scales its platform.
Strategic focus areas for the new role
Shi’s responsibilities as Chief Investment Officer will centre on four key areas:
- Strategic growth opportunities – Identifying and evaluating expansion pathways across Klevo’s business lines
- Capital allocation – Deploying resources across payments, digital wallet, and card-linked technology initiatives
- Corporate development – Leading transaction execution, partnerships, and strategic investments
- Long-term value creation – Building sustainable returns across the Klevo Group’s portfolio
These responsibilities span the company’s payments infrastructure, digital wallet services, card-linked technology platform, and broader financial services initiatives. The structured approach signals disciplined capital deployment across multiple business lines rather than opportunistic expansion.
Building on Klevo’s expanded platform
Following its acquisition and integration of Fly Wallet, Klevo operates an expanded technology platform serving corporates, financial services providers, and consumer brands. The company now delivers white-labelled Mastercard-powered loyalty and rewards solutions, digital wallet infrastructure, card-linked rewards, customer engagement programmes, and digital marketing services. Shi’s appointment strengthens execution capability as Klevo advances this fintech and payments strategy. The Board considers the appointment an important step in building investment, transaction execution, and corporate development infrastructure to support the company’s technology roadmap and commercial partnerships.
The commercial case for this investment infrastructure is supported by a recent Mastercard incentive milestone: Klevo received over $2 million in performance-based incentives tied to transaction volumes and card activations through Fly Wallet, confirming the platform has moved beyond development into measurable commercial scale.
Employment terms
Shi’s appointment as an executive director combines board responsibilities with operational leadership. The key terms disclosed include:
- Remuneration: $240,000 per annum plus statutory superannuation
- Notice period: Three months’ written notice from either party
- Termination: Company may terminate immediately without notice in circumstances of serious misconduct
The executive director structure positions Shi to contribute at both governance and operational levels as Klevo executes its growth strategy.
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Klevo’s outlook
The Board views this appointment as infrastructure investment for growth execution rather than a one-off event. The company continues to focus on building scalable technology, strengthening governance and compliance capability, and expanding commercial partnerships across the rewards, loyalty, and payments ecosystem. Shi’s role will support these objectives through strategic capital allocation and corporate development activity as Klevo advances its platform and market positioning.
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