14.03.2018
FinTech Group AG DE000FTG1111
DGAP-News: FinTech Group AG extends contract of CEO Frank Niehage
DGAP-News: FinTech Group AG / Key word(s): Change of Personnel/Strategic
Company Decision
FinTech Group AG extends contract of CEO Frank Niehage
14.03.2018 / 12:00
The issuer is solely responsible for the content of this announcement.
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Corporate News / Frankfurt am Main, March 14 2018
FinTech Group AG extends contract of CEO Frank Niehage
Frankfurt - FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker:
FTK.GR) extends the contract of Frank Niehage, CEO of FinTech Group AG and
its 100% subsidiary FinTech Group Bank AG. He will continue to steer the
group at least until 2022.
On March 12 2018, the supervisory board of FinTech Group AG decided
unanimously to extend the contract of CEO Frank Niehage for another term
until August 2022. Frank Niehage took over the responsibility for the
FinTech Group in 2014 as a complex restructuring case. The acquisition of
the XCOM Group in 2015, which Frank Niehage led, was the starting point of
today's success story. After years of restructuring and reorganization, the
group's financials turned significantly positive. Additionally to that
operational success, the market cap increased sixfold since Frank Niehage
took office as CEO in August 2014. Today, all signals point to growth, the
management expects for 2018 revenues of EUR 120 million and net profits of
EUR 24 million.
"Frank Niehage did an outstanding job in his first term, he managed the
organizational change process with strong dedication and focus. The growth
of the previous years has been impressive, right decisions have been taken,
both operationally as well as on the capital markets. This is the reason why
the supervisory board aims for continuous stability in the management team
with Frank Niehage as the CEO. We are looking forward to the next years and
our common future growth", said Martin Korbmacher, Chairman of FinTech Group
AG.
About FinTech Group AG
FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) is a
modern smart bank: We offer innovative financial technology, our own core
banking system, and a regulatory liability umbrella.
Our cash cow is retail broker flatex which, through our advanced technology,
can offer top-quality service at an affordable price. This makes flatex the
fastest growing trading platform in Europe. Our smart technology is easy to
scale, so we also successfully offer it to B2B customers. We provide vital
services for many well-known institutions and even state infrastructure.
We help start-ups and disruptive business ideas that require a banking
license to rapidly become a success through our white label banking.
In a time of bank consolidation, low interest rates, and digitization we are
ideally positioned for further growth. Our goal is to become Europe's
leading provider of financial technology
Disclaimer
This release may contain forward-looking statements and information, which
may be identified by formulations using terms such as "expects", "aims",
"anticipates", "intends", "plans", "believes", "seeks", "estimates" or
"will". Such forward-looking statements are based on our current
expectations and certain assumptions, which may be subject to variety of
risks and uncertainties. The results actually achieved by FinTech Group AG
may substantially differ from these forward-looking statements. FinTech
Group assumes no obligation to update these forward-looking statements or to
correct them in case of developments, which differ from those anticipated
Contact:
Roman Kessler
Head of Communications
FinTech Group AG
Rotfeder-Ring 5
D-60327 Frankfurt/Main
+49 (0) 69 450001 041
[email protected]
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14.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: FinTech Group AG
Rotfeder-Ring 5
60327 Frankfurt am Main
Germany
Phone: +49 (0) 69 450001 041
E-mail: [email protected]
Internet: www.fintechgroup.com
ISIN: DE000FTG1111, DE0005249601
WKN: FTG111
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate
Exchange
End of News DGAP News Service
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