100x Group announced on Thursday that Stephan Lutz will join the organisation as its new Chief Financial Officer, effective from May 2021.
Recently announced in a press release shared with Finance Magnates, Stephan Lutz, a former partner at PricewaterhouseCoopers GmbH (PWC), has been named by 100x Group, the holding group behind cryptocurrency exchange BitMEX, as its new Chief Financial Officer. He will direct its financial growth, expansion and profitability.
Lutz will report directly to Alex Höptner, CEO at 100x Group. The timing of this position is ideal as the company is evolving and enhancing its BitMEX platform and plan to expand its capabilities in 2021.
Lutz’s Vocational Background
Prior to the announcement, Lutz has spent a total of eight and a half years at PriceWaterhouseCoopers. He is currently a Partner of FS Capital Markets Sector Lead, which he began in Germany in late 2015. Before this, he fulfilled the role as a Partner of Financial Services as well as being responsible for the department of Deals & Restructuring.
Earlier to his employment at PWC, Deutsche Börse AG recruited him as a Senior/Principal Project Manager M&A Projects. In August 2010, he received a promotion as a Director and Head of Human Resources in Germany. For two years, he implemented a restructuring programme, which included negotiation of balancing of interests with workers council. Before the promotion, he was in charge of project management of M&A transactions and project-related work in Finance.
In mid-2006, Lutz became a Senior Consultant at Roland Berger Strategy Consultants. He completed all requirements effectively in his role at the financial services practice over a one-year period.
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While at Beluga Group, he held the position of Manager responsible for Controlling & Finance. He held joint responsibility with the technical director for the fleet’s operating costs.
In February 2003, he joined the ranks of Dresdner Bank as a Senior Auditor. As part of his role, he spent a little under two and a half years executing process audits at Dresdner Kleinwort Wasserstein in front office trading, Finance, Operations, Risk Controlling and Corporate Finance. Previously, he was an Analyst in Corporate Finance.
An Exceptional Leader with a Sharp Business Acumen
Commenting on the announcement, Alex Höptner, CEO at 100x Group, said: “Stephan is an exceptional leader with a sharp business acumen and proven success helping organisations grow, succeed, and navigate through challenges. He joins at precisely the right time for us in our evolution as a company as we enhance the BitMEX platform and look to expand our capabilities further in 2021.”
“There’s nothing quite as dynamic, all-encompassing, and interesting as crypto, and in my mind, there’s no company that’s better positioned to succeed in this space than 100x Group. We need to be as agile as we are innovative in this hyper-competitive industry while also being strategic amid the fast-moving regulatory backdrop. I believe that crypto will increasingly proliferate into classic use cases and that this will prompt bi-directional change. Crypto will shape traditional financial services as it matures further as an asset class,” Lutz said.