Several Top Managers Leaving N26
The Berlin mobile bank is growing rapidly and is one of the most successful German start-ups but still, the head of the start-up has to fill several top positions because three important managers are leaving.
Mobile bank N26 loses three top managers. Patrick Kua, Martin Schilling and Robert Kilian are three of the most important N26 managers leaving the financial start-up.
N26 confirmed that former chief scientist Kua is no longer working for fintech. Schilling, the COO, is still with N26 in the first quarter and will “take on a new challenge afterward”. Chief lawyer Kilian wants to start his own company but will stay at least until the end of March to incorporate a successor.
The finance portal “Financefwd” first reported on the disposals. From the General Counsel division, N26 also has to fill the post of Sven Niederheide. The Head of Compliance had left the bank in December “at his own request” to devote himself to a new project in Berlin, he said. N26 did not comment on the personnel. Niederheide came to N26 from HSH Nordbank — just half a year ago.
Gino Cordt, CTO, will take on Kua’s duties, N26 said. Schilling’s tasks largely go to Thomas Grosse, who came to N26 from Google in October.
N26 is one of the most successful German startups. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, N26 today has more than 3.5 million customers in 26 countries. Fintech estimates its valuation at 3.1 billion euros. Stalf and Tayenthal are still at the top of the company today.
Fintech has recently started in the USA. In the coming years, N26 plans to reach more than 50 million customers. The core of the offer is a banking app for smartphones and the standard version is free of charge.
In terms of security, however, N26 had to take significant criticism last year. At the end of May 2019, the German financial regulator BaFin had ordered better internal security measures against money laundering at N26. For example, the agency complained about the backlog of transactions that had been identified as suspicious.
Author: Marko Vidrih
Featured image credit: Pixabay