Valentin Stalf, one of the founders of N26, plans to relinquish his position.
N26 Announces Major Management Changes and New Products
German digital bank N26 is undergoing significant changes in its management structure, aiming to address regulatory concerns and restore investor confidence.
In a move that marks a departure from operational duties, co-founder Valentin Stalf will step down as co-CEO and move to a role on the supervisory board after a transition period. Maximilian Tayenthal, the current sole CEO, will remain in his position alongside Marcus Mosen, who has been appointed as co-CEO.
The new leadership structure includes the appointment of Andreas Dombret, a former Bundesbank board member, as chair of the supervisory board. This move is intended to strengthen governance and address regulatory concerns.
N26 is also expanding its Management Board with the addition of Jochen Klöpper as Chief Risk Officer, starting in December 2025. This appointment signals an increased focus on risk management and compliance.
The leadership reshuffle comes in response to regulatory pressure and compliance failures. BaFin, the German financial watchdog, had previously put a growth cap on N26, which was lifted less than a year ago. However, recent findings of new risk management weaknesses led BaFin to propose issuing a formal warning to two members of N26’s management board and appointing a special monitor.
Stalf and Tayenthal, together, still hold a roughly 20% stake in the company. They may waive special voting rights that give them veto power over certain decisions, further demonstrating their commitment to the new leadership structure.
In addition to these changes, N26 is preparing to introduce products for families. This includes a child’s account, card, and investment functionality, marking a shift towards holistic wealth management.
Despite the nearly three-year growth cap costing N26 billions in lost valuation, including a shutdown of its U.S. operations in 2021, the bank has broken even and delivered 40% revenue growth in its past financial year. Annual revenues exceeded €500 million.
According to a source, Maximilian Tayenthal may step down from his role at a later stage. Marcus Mosen may be appointed as interim co-CEO.
In a related development, UK-based fintech Wise held a referendum on investors who hold so-called "golden share" supervoting powers last month.
These changes at N26 aim to quell investor unrest, address BaFin’s criticisms regarding the bank’s weak internal controls and risk management, and position the bank for future growth and success.
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