BUX
Holding, the parent company of mobile investment platform BUX, announced today
the appointment of Marcel Jongmans as the board’s new Chairperson.
Jongmans, who brings almost 30 years of experience in the financial services
sector, will succeed Founder Nick Bortot, who will remain involved as an
Observer of the Board.

BUX Appoints Marcel
Jongmans as New Chairperson

Jongmans’
appointment comes at a time when BUX is undergoing significant organizational
changes, including the divestment of key subsidiaries such as the acquisition
of BUX by ABN AMRO.

CEO Yorick
Naeff is confident that Jongmans can guide the company through this
transitional period, citing his “extensive experience and deep
understanding of the industry.”

“We are
confident that Marcel will play a pivotal role in driving BUX’s continued
success,” Naeff added.

Before
joining BUX, Jongmans served as the Global CEO and Board member at ABN AMRO
Clearing Bank and as CFO and Board member at Flow Traders. His track record of
leadership and strategic vision is expected to play a crucial role in driving
BUX’s future in the retail investment space.

“I believe
in the company’s mission and am eager to work closely with the Board,
Management Team, and employees to further guide BUX through its organizational
changes,” said Jongmans

BUX, the
Dutch neobank and neobroker, offers an investment platform featuring stocks, ETFs,
ETCs, and pre-built and custom Investment Plans.

ABN AMRO’s Deal

The deal with ABN AMRO excludes BUX’s cryptocurrency operations and builds on an existing partnership
between ABN AMRO and BUX that began in 2019. In 2022, BUX hired former ABN
executive Niek van Rens as its COO, strengthening the connection between the
two companies. In October 2023, BUX announced plans to sell its UK business,
focusing on revenue from the EU, without disclosing the potential buyer,
leaving it unclear if ABN AMRO was involved.

ABN Amro Bank agrees to acquire online broker BUX as the Dutch lender aims to boost its retail investment and digital presence https://t.co/Mm5pnUgdmO

— Bloomberg (@business) December 14, 2023

The
acquisition, expected to be completed in 2024, is pending regulatory approval.
ABN AMRO indicated that the transaction will have a minor impact on its CET1
capital ratio, and the financial terms are undisclosed.

Previously
known as BUX Zero until May, the platform recently rebranded. Last
year, BUX also rebranded its contracts for difference (CFDs) platform to Stryk,
formerly BUX X, as part of its strategy to differentiate its zero-fee trading
platform from its CFDs platform.

In early
2023, ABN AMRO partnered with Fireblocks to issue its first digital
bond.

This article was written by Damian Chmiel at www.financemagnates.com.

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