N26 appoints new Supervisory Board, strengthening corporate governance as it becomes a Stock Corporation
Berlin - N26, The Mobile Bank, today announced the appointment of its new group Supervisory Board as it continues to evolve its governance structures in preparation for the next stages of development.
The latest appointments will see Marcus W. Mosen, Jörg Gerbig, Dr. Barbara Roth, Dr. Julian Deutz and Dr. Robert Kilian take on roles as members of N26’s Supervisory Board, working in close collaboration with N26’s senior management and Executive Leadership Team.
Marcus W. Mosen brings more than two decades of management, strategic growth, and leadership experience in payments and fintech and is the former CEO of payments company Concardis. He has also held executive roles at Ingenico, Ogone, Easycash and First Data. As well as being a fintech investor, he is a board member at various fintech startups and a senior advisor to venture capital firms. Marcus will be the Chair of the Supervisory Board.
Jörg Gerbig is the Chief Operating Officer of Just Eat Takeaway.com and founder of Lieferando, bringing with him rich experience in scaling fast growing businesses in the digital space. He will hold the position of Vice-Chair of the Board.
Dr. Barbara Roth is Head of Group Internal Audit at Deutsche Börse. With over two decades of experience as lawyer and manager in banking, capital markets, and M&A, she was also Executive Vice President and Chief Compliance Officer at UniCredit Bank AG, where she joined from international law firms. Barbara will Chair the Regulatory Committee of the Board.
Dr. Julian Deutz, Chief Financial Officer of Axel Springer SE, joins the board with decades of experience in finance and accounting, corporate controlling, M&A and investor relations, and will join as the Chair of the Board’s Audit & Risk Committee.
Dr. Robert Kilian is the founder of the software company Beams and a lecturer in regulation and entrepreneurship at Humboldt University of Berlin. A lawyer by background, he specialized in M&A at international law firm Hengeler Mueller before joining N26 as Chief Representative and General Counsel until July 2020. He was also a member of the FinTech Council at the German Federal Ministry of Finance and founding President of the European FinTech Association. Robert joins as the Chair of both the Board’s Nomination Committee and Remuneration Committee.
Alongside this, N26’s company structure will convert from a German Limited Liability Company (Gesellschaft mit beschränkter Haftung - GmbH) to a German Stock Corporation (Aktiengesellschaft - AG), paving the way for N26 to become an European Company (Societas Europaea - SE) in the future. This reflects N26’s growth to date and its position as the leading digital bank in Europe, whilst also giving N26 the flexibility to continue pursuing its strategy as it scales.
N26 has also been granted a Financial Holding Licence by BaFin, one of the first financial technology firms in Germany to achieve this on top of being a fully regulated and licensed bank. This represents an important step in the entirety of N26’s operations.
Chair of N26’s new Supervisory Board Marcus W. Mosen, said: “Having accompanied N26 since their inception, it has been a journey of innovation and growth that has captured the attention of some of the world’s most well-known investors. As adoption of digital banking accelerates and more customers switch to more flexible and seamless forms of financial services, N26 is defining new standards in this category. I look forward to supporting them further as they work towards their vision to be a leader in digital banking.”
Chair of the Board’s Regulatory Committee Barbara Roth, added: “As a digital disruptor, N26 offers the innovation of a technology leader with the credibility and responsibility of a regulated financial institution. But more than that, it has the exciting challenge as a pioneer to also play a role in shaping standards and sharing future-focused best practices for the banking industry in the digital age.”
Commenting, Chair of both the Nomination and Remuneration Committees Robert Kilian, said: “I’m excited to be back on board at N26 and to work closely with the experienced management team. The members of N26’s new Supervisory Board are industry experts, bringing extensive experience and sector knowledge to the table. I look forward to the progress we will be able to make together.”
N26 is building the first mobile bank the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has welcomed more than 8 million customers in 24 markets. N26 has a 1,500-strong team of 80 nationalities based across the globe. It has teams based in 10 locations: Amsterdam, Berlin, Barcelona, Belgrade, Madrid, Milan, Paris, Vienna, New York and São Paulo. With a full German banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS, and desktop. Valued at more than US$9 billion, N26 has raised close to US$ 1.8 billion from the world’s most established investors, including Third Point Ventures, Coatue Management LLC, Dragoneer Investment Group, Insight Venture Partners, GIC, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
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