Flynt, Leonteq co-founder Jan Schoch's wealth management platform start-up, has appointed new management. The bank's start to business has been hampered by further delays.
The digital bank for the super-rich, Flynt, has been without leadership ship last autumn, when Alexander Rueegg und deputy Christoph Baumann left the start-up acrimoniously, as finews.com reported.
Flynt has named new board and management for Juerg Frei, who led the project temporarily.
Weisshorn, EY Consultant
The bank appointed as CEO Stijn Vander Straeten, who joins Flynt from consulting firm Weisshorn. The Belgian national, who previously held senior roles at EY, has «outstanding knowledge in wealth and asset management strategy and operations.» .
He will be joined in top management by Frei, who takes on risk and compliance roles, as well as Steffen Lentz as Chief Technology Officer.
No Role for Schoch
The board is led by former Swiss Re chairman Peter Forstmoser, with Daniel Halter, Edgar Fleisch, Jasmin Schmuki and Tze Hoe Chan as members.
Schoch, who founded Flynt and is bankrolling its development, does not have an official role at the digital bank. He is currently battling to restore investor trust in derivatives firm Leonteq, which said two months ago it might not reach profitability this year.
New Investors
The Leonteq co-founder and CEO has tracked the project very closely in recent months, securing new investors and raising 26.5 million in share capital.
Flynt still doesn't have a bank license, which it had expected in February, further delaying its operational start.
