John Häfelfinger faces potential upheaval at Basellandschaftliche Kantonalbank (BLKB) as a local initiative seeks to revert the bank to its traditional savings and mortgage model, challenging his leadership. Critics highlight costly decisions, including a significant loss from a Swissquote package and a failed neobank venture, Radicant, which has yet to secure a merger with Numerics. Despite these challenges, BLKB's media office asserts there is no loss of trust, citing a recent survey naming it the best bank for private customers in Northwestern Switzerland.
A popular initiative in Baselland aims to cap the salary of BLKB CEO John Häfelfinger at CHF 600,000, amid concerns over the bank's focus on high-risk projects like its subsidiary Radicant. The initiative, led by SVP President Peter Riebli, calls for a clearer political mandate and greater regional focus for the cantonal bank, which has faced criticism for poor profit development compared to peers. BLKB is currently evaluating the implications of this legislative proposal.
A non-partisan committee led by SVP President Peter Riebli is pushing for an initiative to restrict Basellandschaftliche Kantonalbank (BLKB) to its core business, aiming to restore public trust amid concerns over its investments in the digital bank Radicant. The proposal includes capping executive salaries and limiting the bank's social policies, which critics argue could harm its profitability and growth. Initial political reactions are largely negative, with concerns that the initiative represents an excessive intervention in the bank's operations.
Radicant Bank plans to merge with Zurich fintech Numarics, backed by UBS, to enhance its banking and investment services for private and corporate clients. The merger, pending regulatory approval, aims to simplify administration and expand offerings, with BLKB becoming the majority shareholder. Anton Stadelmann will lead the new company, headquartered in Liestal, as CEO.
Radicant, a subsidiary of BLKB, is merging with Zurich-based start-up Numarics to enhance its services for SMEs and private customers. The new entity, employing nearly 180 people, will be headquartered in Liestal and aims to achieve financial sustainability by 2027/28. Anton Stadelmann will lead the merged company, with a board comprising equal members from both firms.
BLKB's subsidiary Radicant is merging with fintech Numarics to enhance its offerings for private customers and SMEs, aiming for break-even by 2027/28. The merger will expand Radicant's services in sustainable banking and investment, while broadening its investor base with venture capital firms. Radicant's CEO Anton Stadelmann will continue to lead the combined entity, which will also see a new six-member Board of Directors.
BLKB's subsidiary Radicant is merging with fintech Numarics to enhance its offerings for private customers and SMEs, aiming for break-even by 2027/28. The merger will expand Radicant's services in sustainable banking and investment, while broadening its investor base with participation from venture capital firms. Radicant will continue under CEO Anton Stadelmann, with a new six-member Board of Directors formed from both companies.
Numarics AG and radicant bank ag, both subsidiaries of Basellandschaftliche Kantonalbank (BLKB), have announced plans to merge, pending regulatory approval. This merger aims to create a comprehensive banking and financial services platform for private and SME clients, enhancing their offerings and market presence. BLKB will remain the majority shareholder, with additional investments from venture capital firms.
In a strategic move, radicant bank ag and Numarics AG plan to merge, aiming to create a comprehensive banking, financial investment, and administration platform for private and SME clients. The merger, pending regulatory approval, will enhance service offerings and broaden the investor base, with BLKB as the main shareholder. Anton Stadelmann, former CEO of radicant, is set to lead the new entity, which will be headquartered in Liestal.
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