A Swiss fintech association has been roiled by a major dispute over strategy, leading to a high-profile exodus, finews.com has learned.

The entire board of the Swiss Finance + Technology Association, or SFTA, has stepped down following a long-brewing conflict with its president, John Hucker, finews.com has learned.

Christian Dreyer, Daniel Diemers, Boris Battistini, Klaus Kummermehr, Luke Szkudlarek and Alexandre Gaillard all departed last week, simultanously. Hucker, who founded the lobby three years ago, has lost a valuable chunk of know-how as well as an anchor in western Switzerland: Gaillard, founder of robo adviser Investglass, had been responsible for the SFTA's business in Geneva. 

The dispute with Hucker stems from differing views of the SFTA's future: the president is keen for a new strategy which departs from the lobby's non-profit past.

Incompatible Behavior

By contrast, the board wanted to stick with the founding principles, which were to build SFTA into a Swiss fintech ecosystem for as many interested parties as possible. The board accused Hucker of behavior which is incompatible with the initial purpose, and which isn't in the interest of the lobby's members or leadership, a source familiar with the matter told finews.com.

The exodus follows several calls for Hucker to convene an extraordinary meeting, which the president didn't respond to in recent months. The dispute extended to the use of SFTA funds: Gaillard complained that he hadn't received any financial help for activities in Geneva, apart from pins, flyers, and roll-up posters. The lobby regularly organizes meetups for fintech experts and start-up entrepreneurs to present their ideas. 

Roughly 600 Members

Hucker, the SFTA's president, didn't respond to a request for comment. Several board members confirmed their departure, but declined to elaborate. SFTA, one of a handful of fintech lobbies in Switzerland, works with Singapore's Fintech Association in order to deepen ties between the two countries.

The SFTA, which maintains a global directory of fintech startups, has roughly 600 members and provides events as well as mentoring and partnering programs. Hucker, formerly a fintech scout for Credit Suisse's private bank, also runs Zurich-based fintech and crypto investment firm Elliott Capital.