By PAUL O’DONOGHUE, Senior Correspondent
VALENTIN Stalf, a founder and co-CEO of German digital bank N26, will leave his position and join the lender’s supervisory board.
Maximilian Tayenthal, also a founder and co-CEO, will remain in the role.
In a statement, N26 said: “Valentin Stalf will step away from his operational responsibility as CEO and move to the N26 Supervisory Board after an initial transition period.”
Mr Stalf said: “My move to the Supervisory Board is a forward-looking decision. To continue to best utilize my experience and knowledge to strengthen N26.
“The new role also offers me the opportunity to devote more time to my family office and other entrepreneurial pursuits.”
Stalf founded N26 together with Tayenthal in 2013. Together, they continue to hold almost 20% of the shares of N26.
N26 is one of Europe’s most valuable fintechs.
In recent years, N26 has come under the scrutiny of German regulators, which have forced the bank to take measures to strengthen controls to prevent money laundering.
Valentin Stalf and N26 AML issues
N26 is one of Europe’s leading digital banks, with approximately eight million customers. It reported revenue of approximately €440 million in 2024, a 40% annual increase.
However, the company has faced persistent issues regarding its approach to AML rules.
Last week, reports emerged that investors wanted to remove Stalf and Tayenthal as co-CEOs due to unresolved compliance issues.
The main problem identified was a “renewed list of deficiencies” highlighted by BaFin, Germany’s financial supervisory authority.
At the time, N26 said: “It is false to claim the founders are facing pressure from investors to step down.”
BaFin previously imposed a cap on customer growth at N26. Stalf said the move had likely cost the company “billions” in lost growth. N26 has also received multiple fines from regulators over compliance problems.
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