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 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.

The acquisition , 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.