Solaris hires Michael Bonacker to lead supervisory board

Source: Solaris

Solaris, Europe’s leading embedded finance platform, announces the appointment of new supervisory board members. The board will be instrumental in helping Solaris execute its 5-year strategy, dedicated to achieving profitable growth, focusing on core verticals, and making regulatory compliance a key USP.

Following this year’s general assembly, Solaris is excited to announce Michael Bonacker as the new supervisory board chairman. Bonacker brings a wealth of banking and transformational experience to Solaris, as the organization sets its sights on strengthening its market-leading position after proving resilient in adapting to new market conditions.

Bonacker said: “Solaris has been built on fantastic technological foundations and has shown tremendous resilience during the past 12 months to establish a pole position in the embedded finance market. While the market has huge potential, Solaris must now focus on long-term organizational transformation. I’m delighted to work with a supervisory team featuring some of the best minds across fintech and banking.”

Renowned global strategist Michael Bonacker has over 30 years of professional experience in financial services including roles in management, investment banking and consulting. He has held senior management positions such as Group Head of Strategy at UBS and Head of Development at Commerzbank. His extensive background also includes roles at Credit Suisse, Oliver Wyman, BHF Bank, Lehman Brothers, Deutsche Bank and McKinsey.

Bonacker will chair a supervisory board consisting of Solaris founding investor and former chairman Ramin Niroumand, audit expert Burkhard Eckes, SBI Group executive Tomoyuki Nii, and new appointee James Freis.

Freis brings extensive fraud and cybercrime prevention expertise to the Solaris supervisory board, having previously served as the United States Department of the Treasury’s Director of the Financial Crimes Enforcement Network. He was also instrumental in initiating actions to stop the Wirecard scandal shortly after joining the organization.

Niroumand added: “Together with its partners, Solaris has led and defined the innovation phase in the fintech sector. The product and technology platform is unique in Europe. The focus on sustainable profitability and resilience will ensure market leadership and longevity of the business model. We have navigated a challenging time together and I am proud that Solaris’ new chapter is also supported by leading experts on the Supervisory Board.”

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