BUX Holding, the parent company of mobile investment platform BUX, announced today the appointment of Marcel Jongmans as the board's new Chairperson. Jongmans, who brings almost 30 years of experience in the financial services sector, will succeed Founder Nick Bortot, who will remain involved as an Observer of the Board.

BUX Appoints Marcel Jongmans as New Chairperson

Jongmans' appointment comes at a time when BUX is undergoing significant organizational changes, including the divestment of key subsidiaries such as the acquisition of BUX by ABN AMRO.

CEO Yorick Naeff is confident that Jongmans can guide the company through this transitional period, citing his "extensive experience and deep understanding of the industry."

“We are confident that Marcel will play a pivotal role in driving BUX's continued success,” Naeff added.

Before joining BUX, Jongmans served as the Global CEO and Board member at ABN AMRO Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term Bank and as CFO and Board member at Flow Traders. His track record of leadership and strategic vision is expected to play a crucial role in driving BUX's future in the retail investment space.

“I believe in the company's mission and am eager to work closely with the Board, Management Team, and employees to further guide BUX through its organizational changes,” said Jongmans

BUX, the Dutch neobank and neobroker, offers an investment platform featuring stocks, ETFs, ETCs, and pre-built and custom Investment Plans.

ABN AMRO's Deal

The deal with ABN AMRO excludes BUX's cryptocurrency operations and builds on an existing partnership between ABN AMRO and BUX that began in 2019. In 2022, BUX hired former ABN executive Niek van Rens as its COO, strengthening the connection between the two companies. In October 2023, BUX announced plans to sell its UK business, focusing on revenue from the EU, without disclosing the potential buyer, leaving it unclear if ABN AMRO was involved.

ABN Amro Bank agrees to acquire online broker BUX as the Dutch lender aims to boost its retail investment and digital presence https://t.co/Mm5pnUgdmO

— Bloomberg (@business) December 14, 2023

The acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, expected to be completed in 2024, is pending regulatory approval. ABN AMRO indicated that the transaction will have a minor impact on its CET1 capital ratio, and the financial terms are undisclosed.

Previously known as BUX Zero until May, the platform recently rebranded. Last year, BUX also rebranded its contracts for difference (CFDs) platform to Stryk, formerly BUX X, as part of its strategy to differentiate its zero-fee trading platform from its CFDs platform.

In early 2023, ABN AMRO partnered with Fireblocks to issue its first digital bond.