Director Profiles

Annabelle Chaplain was appointed as a Non-Executive Director with effect from 21 May 2019 and Chairman with effect from 1 August 2019. Annabelle Chaplain brings extensive experience in a range of industry sectors including financial services, industrials, infrastructure and retail.  She has more than 25 years’ experience as a director of government bodies and publicly listed, private and not for profit companies.

Annabelle is a Director of Seven Group Holdings Limited (since November 2015) and Super Retail Group Ltd (since March 2020). She was previously Chairman of Canstar Pty Ltd, a leading intermediary in finance in Australia and New Zealand, a Director of Downer EDI Ltd and Credible Labs Inc.

In 2015, Annabelle was awarded Griffith University Business School’s Outstanding Alumnus of the year and in 2016, in recognition of her distinguished service to banking, finance and the community. She was appointed an AM in the General Division of the Order of Australia in the Australia Day Honours in 2020.

Annabelle is a Fellow of the Australian Institute of Company Directors and holds an MBA from the University of Melbourne.

Gerald Stack was appointed Chief Executive Officer and Managing Director with effect from 1 January 2026. Gerald joined the MFF Group in September 2025 as Head of Investment Management.

Gerald has over 30 years of financial services and investment management experience, including 18 years at Magellan Asset Management where he was Head of Investments. Gerald led the team responsible for Magellan’s global listed infrastructure business and oversaw an asset base of more than $16 billion. Prior to this, Gerald was a Director and Head of Securities Research at CP2 Limited (formerly Capital Partners) and was a member of their Management Investment Committee. Gerald holds advanced skills in global investment analysis, valuation and management alongside experience in building strong teams and disciplined investment processes.

Gerald serves as a Director for Caritas Australia and is also a member of their Audit, Finance and Risk and Innovative Finance Committees. He is a Chartered Accountant and earned a Bachelor of Economics and Master of Business Administration from Sydney University.

Chris Mackay was appointed Portfolio Manager of MFF from 1 October 2013 and Executive Director Investments & Capital with effect from 1 January 2026. Chris was Managing Director of MFF from 1 October 2013 to 31 December 2025. He is a Director of Seven Group Holdings Limited (appointed June 2010) and was a Director of Consolidated Media Holdings (formerly Publishing and Broadcasting) from 2006 until its takeover by News Corporation in November 2012.

Chris has considerable experience in business management, business assessment, capital allocation, risk management and investment. He became an investment banker in 1988, after being a corporate and banking lawyer, and has broad experience in the financial and corporate sectors.

Chris co-founded Magellan after retiring as Chairman of the investment bank UBS Australasia in 2006, having previously been its Chief Executive Officer. He was a member of the Federal Treasurer’s Financial Sector Advisory Council and the Business Council of Australia, and a director of the International Banks & Securities Association.

Peter Montgomery was appointed as a Non-executive Director with effect from 21 May 2019. Peter has had a wide ranging multi decade business career which includes extensive public company experience both as a director and a substantial shareholder in public and private companies whose activities have included radiology, aged care, retirement villages, contract oil and gas drilling, funds management, land development and operating tourism businesses.

Peter is a graduate in law from Sydney University and is a Sydney solicitor. He has also had an extensive career in sport both as an athlete, and Australian and global roles as an honorary official, including being the Foundation President of the World Olympians Association. Peter received an Order of Australia Medal in 1986 and was awarded an AM in 2006.

Robert Fraser was appointed as a Non-Executive Director with effect from 21 May 2019. Robert is a company director and corporate adviser with 35 years of investment banking experience, specialising in mergers and takeovers, corporate and financial analysis, capital management, equity capital markets and corporate governance.

Robert is currently the Managing Director of TC Corporate Pty Limited, the corporate advisory division of Taylor Collison Limited stockbrokers of which he is a Director and Principal. He is the Non-Executive Chairman of ARB Corporation Limited (Non-Executive Director since February 2004 and Chairman since September 2022). Robert is also a Non-Executive Director of FFI Holdings Limited (since October 2011) and Supply Network Limited (since April 2024), as well as Non-Executive Director (since April 2014) and Chairman (since June 2019) of Magellan Asset Management Limited (Responsible Entity and main operating subsidiary of Magellan Financial Group Limited). He was previously Non-Executive Director (April 2014 – August 2023) and Deputy Chairman (February 2022 – August 2023) of Magellan Financial Group Limited and, between April 2014 and August 2023, Chairman of its Audit and Risk Committee and a member of the Remuneration and Nominations Committee. He is the President of the Muscular Dystrophy Association of New South Wales.

Robert has a Bachelor of Economics and Bachelor of Laws (Hons) degrees from the University of Sydney and is also qualified as a licensed business broker, licensed real estate agent and a registered Tax (financial) Adviser.