Raisin appoints former UBS chair Axel Weber as advisor and board member
Berlin-based fintech Raisin has appointed Axel Weber, the former president of the German Central Bank, as an advisor and board member.
Prior to joining Raisin, Weber served as chairman of the board of directors for Swiss bank UBS from 2012 to 2022.
As president of the German Bundesbank from 2004 to 2011, Raisin says Weber was “one of the key figures during the euro crisis, when the threat of a breakup of the European Economic and Monetary Union loomed”.
The appointment comes as Raisin claims to be experiencing a “steep growth curve” amid interest rate hikes and a “savings rush”. The fintech says it has now hit €50 billion in assets under management, a 66% increase from the €30 billion it recorded in December 2022.
Founded in 2012, Raisin offers savings, investment and pension products to more than 1.3 million consumers in the European Union, UK and US. In addition to Germany, Raisin claims all the major markets it operates in have witnessed a “significant growth” in savings products.
Tamaz Georgadze, co-founder and CEO of Raisin, says the company is aiming “to capture the gigantic market of over €95 trillion in deposits and investments in the EU, the UK and the US”.