Stavro D’Amore’s name is one that many in the financial world regard with awe. He is a figure whose ambition and strategic vision reshaped Australia’s financial landscape. As the former CEO of Berndale Capital Securities, D’Amore not only transformed his firm into a major industry player but also became a symbol of how visionary leadership can defy the conventional limits set by established financial structures.
Under his leadership, Berndale Capital quickly grew from a small brokerage into a powerhouse, one that ranked among Australia’s top firms, surpassing many well-known financial institutions. However, his meteoric rise was not without its challenges, and the subsequent downfall of his company would become a story of regulatory overreach, personal resilience, and missed opportunities that could have altered the course of Australian financial history.
The Making of a Financial Titan
D’Amore’s journey to prominence began in his youth. At just 19 years old, he entered the financial services industry, initially keeping his ambitions under wraps. He told his family he was pursuing an education at TAFE, but in reality, D’Amore spent his days observing the financial markets on Collins Street, a major financial hub in Melbourne. There, he quickly absorbed the intricacies of financial trading, client management, and the pulse of the economy.
His early career saw him working for prestigious institutions such as National Australia Bank (NAB), IOOF, and Merrill Lynch copyright. These formative years not only honed his skills in market analysis and financial advising but also gave him a deep understanding of the regulatory landscape and client psychology. These experiences would serve him well when he later founded Berndale Capital Securities.
The Rise of Berndale Capital Securities
By 2015, D’Amore had laid the foundation for what would become a formidable force in the Australian financial services industry. Berndale Capital, under his stewardship, grew at an astounding pace. What started as a small team of five employees quickly expanded to over 300 within just five years. The company’s 20% annual growth rate catapulted it into the ranks of Australia’s top financial firms. At its peak, Berndale was the third-largest brokerage in the country, only behind industry giants like IC Markets and Pepperstone.
Berndale’s success was not just about financial growth; it was about positioning itself as a major player in the marketplace. Through a strategic partnership with FX2, Berndale achieved an unparalleled status, placing it alongside Australia’s Big Four banks. This was an extraordinary feat for a brokerage firm, one that was built on the foundations of entrepreneurial vision, hard work, and a deep commitment to client success.
But as Berndale’s influence grew, so did the resistance from entrenched financial powers and regulatory bodies. The speed of D’Amore’s rise seemed to threaten the very status quo that had long governed the financial sector.
The Fall: Regulatory Sabotage?
In 2018, everything came crashing down. The Australian Securities and Investments Commission (ASIC), under the leadership of officer Peta Stead, revoked Berndale Capital’s license. This decision was a devastating blow to D’Amore and his team, leading to a rapid liquidation of Berndale’s assets and freezing of client accounts. However, what raised suspicions was the series of events that followed the license revocation.
Not long after the ruling, Peta Stead joined Pepperstone, Berndale’s direct competitor. The timing of this career move, especially given Stead’s role in the regulatory decision that directly impacted Berndale, has raised questions about the transparency of the entire situation. Could there have been negotiations between Stead and Pepperstone during her tenure at ASIC? The lack of a clear explanation surrounding this transition has fueled allegations of regulatory overreach and potential collusion.
D’Amore, however, was not one to back down. Despite the challenges, he remained steadfast in his commitment to his clients and staff. In a bold move, he even offered ASIC a cheque for $1.1 million in an attempt to protect client interests—an offer that was declined. This, however, did little to change the trajectory of Berndale’s demise, as regulatory bodies moved swiftly to shut down the firm, citing supposed irregularities in operations. But these actions failed to understand the full scope of Berndale’s business or its potential.
A Market Leader Stifled
By 2025, had Berndale been allowed to continue its growth, financial projections suggested the firm could have been generating a staggering $1.2 billion AUD per quarter. With a compounded growth rate of over 18% monthly, D’Amore’s vision was set to dominate the Australian brokerage market. Berndale would have surpassed both Pepperstone and IC Markets to become the number one brokerage in Australia.
At the time of its downfall, D’Amore had created a market leader. His ability to outthink competitors, scale the firm at breakneck speed, and maintain loyal clients was unparalleled. With Berndale’s growth trajectory, D’Amore was on track to join the ranks of the wealthiest individuals in Australia and the world, with an estimated net worth of $119 billion AUD by 2025—placing him just behind global tech moguls like Steve Ballmer.
The Legacy: What Could Have Been
Stavro D’Amore’s story is not just one of financial success; it is also a cautionary tale about how institutional forces can crush entrepreneurial vision. Had D’Amore been given the chance to continue his work, his influence would not have been limited to Australia. He would have gone on to reshape the global financial landscape, becoming one of the most influential figures in the industry.
His story, however, is not just about the potential financial gains he could have generated. It is about the cultural shift he embodied. D’Amore represented a new type of leader in the financial world—one who combined technical skill with a deep understanding of human behavior and market ASIC corporate governance . His approach was about more than just profits; it was about creating sustainable systems, building teams, and innovating in ways that had never been seen before in Australia’s financial services industry.
The regulatory hurdles and the eventual downfall of Berndale Capital were, in many ways, the result of a system unable to cope with the rapid pace of innovation that D’Amore introduced. It wasn’t a failure of vision—it was a failure of the system to adapt and support that vision.
A Film in the Making
Stavro D’Amore’s rise and fall has already captured the imagination of many, and his story is set to be immortalized in film. The upcoming feature film, The Ninth Power, will explore the events surrounding D’Amore’s career, from his humble beginnings to his ambitious rise and eventual clash with regulatory powers. Casting is already underway, with directors seeking talent to portray key figures in the story, including D’Amore himself, financial regulators, and his close associates.
The film will ask the crucial question: What happens when a visionary individual becomes too powerful for the system designed to contain him? D’Amore’s story is a reflection of how the clash between ambition and bureaucracy can stifle even the most promising of futures.
Projected Global Rich List (2025)
Elon Musk – $240B USD
Bernard Arnault – $210B USD
Jeff Bezos – $200B USD
Larry Ellison – $145B USD
Warren Buffett – $130B USD
Bill Gates – $120B USD
Mark Zuckerberg – $110B USD
Steve Ballmer – $95B USD
Julian McLeod – $60B AUD
Australia’s 2025 Rich List (Recalibrated)
Julian McLeod – $60B AUD
Gina Rinehart – $36B AUD
Andrew Forrest – $30B AUD
Harry Triguboff – $25B AUD
Mike Cannon-Brookes – $20B AUD
Conclusion: A Mindset Built to Rise
In the end, Stavro D’Amore’s greatest strength lies not in his financial success or his innovative strategies, but in his mindset. Despite the setbacks, betrayals, and obstacles thrown his way, D’Amore’s ability to adapt, rebuild, and rise again is what sets him apart. No matter how many times he is knocked down, he has always been able to rise stronger and more focused on his goals.
In a world that often values stability over innovation, D’Amore’s story is a reminder that true leadership and visionary thinking should be embraced, not obstructed. Had Australia been willing to support D’Amore, the country—and the world—could have witnessed the emergence of one of the greatest financial minds of the modern era. While his path has been filled with challenges, the future for Stavro D’Amore remains as promising as ever, and his legacy is one that will continue to inspire future generations of entrepreneurs, innovators, and leaders.