Wed, May 22, 2024

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

Broker News

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who will stay involved as a Board Observer.

BUX Introduces New Chairperson Marcel Jongmans

Jongmans takes the role amid significant organizational shifts at BUX, including selling key subsidiaries like BUX’s acquisition by ABN AMRO. CEO Yorick Naeff expressed confidence that Jongmans would navigate the company through these changes, noting his “vast experience and deep industry knowledge.” “We believed Marcel would drive BUX’s continued success,” Naeff stated.

Jongmans previously served as global CEO and board member at ABN AMRO Clearing Bank and as CFO and board member at Flow Traders. His leadership and strategic abilities are anticipated to be crucial for BUX’s future in retail investment.

“I trusted in the company’s mission and was excited to collaborate with the Board, Management Team, and employees to guide BUX through its changes,” Jongmans remarked. BUX, a Dutch neobank and neobroker, offers an investment platform with stocks, ETFs, ETCs, and pre-built and custom Investment Plans.

ABN AMRO Transaction

The deal with ABN AMRO does not include BUX’s cryptocurrency operations and extends an existing partnership that began in 2019. In 2022, BUX hired former ABN executive Niek van Rens as COO, solidifying the bond between the companies. 

In October 2023, BUX announced its plans to sell its UK business, focusing on EU revenue. However, it did not reveal the potential buyer, leaving it unclear if ABN AMRO was involved. The acquisition, anticipated to close in 2024, is awaiting regulatory approval.

ABN AMRO announced that the transaction would slightly affect its CET1 capital ratio without disclosing financial details. Up until May, the platform operated under the name BUX Zero. 

Last year, BUX rebranded its contracts for difference (CFDs) platform as Stryk, previously known as BUX X, aiming to differentiate its zero-fee trading platform from its CFDs offering clearly. In early 2023, ABN AMRO partnered with Fireblocks to launch its inaugural digital bond.

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BROKER NEWS

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who

BROKER NEWS

Broker News

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who will