Gareth steps down as CEO

Tony Thrassis has been appointed as interim CEO while the board looks for a permanent replacement

Today we’re announcing that Frollo founder and CEO Gareth Gumbley has decided to step down as CEO on 1 July 2022. Tony Thrassis has been appointed as interim CEO while the board looks for a permanent replacement. 

Gareth founded Frollo in 2016: a purpose-driven fintech on a quest to help people feel good about money. Under his leadership, Frollo has become the Australian leader in Open Banking and has had a real, positive impact on the financial well-being of Australians. 

Frollo’s technology now helps Big Four banks, mutuals, fintechs and lenders use Open Banking to deliver better customer outcomes. Its consumer app and money management platform improve the financial well-being of more than 250,000 Australians on a daily basis.

As a caring, inspiring leader Gareth has developed a supportive company culture and a team that’s aligned on its purpose to help improve the financial wellbeing of Australians.

I’m very grateful for all that Frollo has achieved already and I can’t wait to see the team achieve much more in the future.  

Gareth Gumbley – Founder & CEO

Two years ago Frollo was acquired by NextGen, Australia’s leading provider of mortgage lending technology, to help capture the Open Banking opportunity in mortgage lending. This year will see NextGen.net launch its first clients using Frollo’s Open Banking technology to streamline their mortgage applications.

After successfully completing the transition for Frollo to become part of the NextGen.net family, Gareth has decided it’s time to step down:

“The process of building and growing Frollo as a business has been incredibly rewarding. I”m very grateful for all that Frollo has achieved already and I can’t wait to see the team achieve much more in the future.  

I will miss working daily with such an incredible team and amazing partners. I wish everyone continued success, I will miss you all greatly.

For me, it’s time for a little rest and time to hydrate before I set off on a new adventure!”

The board will take their time finding a suitable replacement and is pleased to have Tony Thrassis as acting CEO.  Chairman Adrian Macleod commented:

“Gareth has built an amazing company, a true pioneer in Open Banking and financial wellbeing. We’re sad to see him go, but know that Tony will maintain Frollo’s incredible momentum with its Open Banking solutions for banks, fintechs and lenders.” 

Interim CEO Tony Thrassis says:

Gareth inspires us daily and filling his size 22 shoes will be no easy task. He is a true visionary with the energy of 4 people! Fortunately, so much of Gareth remains in every person at Frollo and I have a feeling he will be watching over us for years to come.”

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