By Rhea Rose Abraham
BERLIN-based online bank N26 has appointed UBS executive Mike Dargan as its next CEO, effective from the beginning of April 2026.
Dargan’s appointment remains subject to regulatory approval by Germany’s financial regulator, BaFin, the company said.
His appointment comes as N26 attempts to address a string of AML and compliance problems which have constrained the business.
Earlier today, BaFin announced stricter oversight of N26, including limits on new business in the Netherlands and the instalment of a special monitor, after finding lapses in compliance by the lender.
“BaFin has imposed additional capital requirements and business restrictions on the institution. [N26] is no longer permitted to conduct new mortgage lending business in the Netherlands,” BaFin said.
BaFin also previousy impopsed a limit on new customers at 50,000 per month. BaFin’s co-founder Valentin Stalf previously said these restrictions have likely cost N26 ‘billions’ or euros in lost growth.
In August, Stalf said he would step down as co-CEO and join the supervisory board.
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