Leadership Transition at flatexDEGIRO: Co-CEOs Appointed as Niehage Steps Down

Leadership Transition at flatexDEGIRO: Co-CEOs Appointed as Niehage Steps Down

(IN BRIEF) Frank Niehage will step down from his role as CEO of flatexDEGIRO Group on April 30, 2024, due to differing views on strategic development. Dr. Benon Janos, CFO, and Stephan Simmang, CTO, will take on the roles of Co-CEOs on an interim basis while the Supervisory Board initiates the search for a permanent successor. Niehage leaves behind a legacy of significant growth, having led flatexDEGIRO to become Europe’s largest online broker, with a twentyfold increase in the customer base and substantial growth in assets under custody during his tenure. Niehage expressed gratitude for the support and highlighted his confidence in the team’s ability to continue driving flatexDEGIRO’s success. The Supervisory Board thanked Niehage for his contributions and expressed confidence in Janos and Simmang to lead the company through this transition and capitalize on its potential.

(PRESS RELEASE) FRANKFURT AM MAIN, 22-Apr-2024 — /EuropaWire/ — Frank Niehage to step down from his CEO role with effect to 30 April 2024. Dr. Benon Janos (CFO) and Stephan Simmang (CTO) to take on additional responsibilities as Co-CEOs on an interim basis.

Effective 30 April 2024, Frank Niehage will step down from his role as CEO and all other flatexDEGIRO Group mandates due to differing views on the strategic development and for the benefit of the company.

Dr Benon Janos, CFO, and Stephan Simmang, CTO, will become Co-CEOs on an interim basis, in addition to their existing responsibilities.

The Supervisory Board has initiated the search for a suitable successor candidate and aims to complete this in the short term.

The whole Supervisory Board would like to thank Frank Niehage for his highly successful work during the last ten years. Under his leadership, flatexDEGIRO rose to become Europe’s largest online broker. By pursuing organic and non-organic growth, he has succeeded in increasing the customer base twentyfold to over 2.8 million customer accounts and increasing customer assets under custody from EUR 4 billion to EUR 58 billion. He also set the company on a path for further highly profitable growth.

For 2024, flatexDEGIRO again expects record revenue and net profit.

Frank Niehage, CEO of flatexDEGIRO: “I would like to thank the Supervisory Board and my colleagues in the Management Board for their trust and support over the last ten years. My special thanks goes to the wider team of approx. 1,300 colleagues. You have done a great job and are a strong team to drive flatexDEGIRO to new heights as one of Europe’s leading online brokers. Accordingly, I will continue to
be a shareholder of flatexDEGIRO.”

Dr Benon Janos and Stephan Simmang look back on a professional collaboration of more than 20 years, initially during their time together at Goldman Sachs and since 2016 in various roles at flatexDEGIRO.

Martin Korbmacher, Chairman of flatexDEGIRO’s Supervisory Board: „On behalf of the whole Supervisory Board, I would like to thank Dr Benon Janos and Stephan Simmang for stepping up and taking on additional responsibilities as Co-CEOs at this important juncture. With their strong leadership, their team spirit and their professional expertise, they enjoy our full confidence to realize the great potential of flatexDEGIRO in this new phase of the company.”

In addition to Dr Benon Janos and Stephan Simmang, the Management Board of flatexDEGIRO AG also includes Christiane Strubel as CHRO. The Management Board of flatexDEGIRO Bank AG, which is essentially responsible for the online broker’s operating business, also includes Dr Matthias Heinrich (CRO), Steffen Jentsch (CPO) and Jens Möbitz (Securities Processing & Back Office).

About flatexDEGIRO AG
flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates the leading and fastest growing online brokerage platform in Europe. Based on modern, in-house state-of-the-art technology, customers of the flatex and DEGIRO brands are offered a wide range of independent products with execution on top TIER 1 exchanges. The technological edge, high efficiency and strong economies of scale enable flatexDEGIRO to continuously improve its service offering for clients and set leading standards in terms of product, price and platform quality.

With more than 2.8 million customer accounts and around 57 million securities transactions settled in 2023, flatexDEGIRO is one of the largest retail online brokers in Europe. In times of bank consolidation, low real interest rates and digitalization, flatexDEGIRO is ideally positioned for further growth.

Further information can be found at https://www.flatexdegiro.com/.

Media Contact:

Achim Schreck Telephone
+49 (0) 69 450001 0
Head of IR & Corporate Communications achim.schreck@flatexdegiro.com

SOURCE: flatexDEGIRO AG