N26 chief risk officer quits

N26 chief risk officer quits

German digital bank N26 has lost its third senior executive in a year, with chief risk officer Thomas Grosse leaving for personal reasons.

Grosse, who has previously worked for Deutsche Bank and Google, has not yet been replaced in a key role for the bank, according to the Financial Times, which first reported the departure.

One of only two people at N26 with regulatory clearance to run a bank in Germany, Grosse spearheaded its efforts to appease Germany's financial regulator BaFin.

In 2021, the watchdog fined N26 €4.25 million over lax money laundering controls and then imposed a temporary cap on the number of new customers the lender was allowed to onboard each month.

The cap - set at 50,000 new customers a month - is still in place.

Grosse is the third C-suite executive to leave N26 in the last 12 months, following in the footsteps of chief financial officer Jan Kemper chief operating officer Adrienne Gormley.

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