[ad_1]
Tobias Triebel is already called Toby by the Vontobel bosses. “Toby Triebel is the ideal candidate to lead the Digital Investment client unit, which deals with private clients who want to use Vontobel’s digital channels,” says the spokesman for the private bank.
The media broadcast the superlatives of the Vontobel press release. “Vontobel is bringing in international fintech experts,” he said yesterday on Investtrends.ch.
The success Triebel has had in the past is controversial. 4 years ago he started at Wealthsimple with the task of putting the Canadian fintech startup on the map of Europe.
Young Triebel made a lot of money for the first time at Wealthsimple. According to the disclosure of Wealthsimple UK Ltd., the English company Triebel earned 544,000 pounds sterling in 2018.
At around 1.25 francs a pound, that equaled almost 700,000 francs at the time. The previous year it was 525,000 pounds.
Triebel’s track record at Wealthsimple is controversial. His Wealthsimple showed practically no income for 2018, but large expenses. The loss for 2018 was 3.6 million pounds, in 2017 there was a loss of 2.3 million.
Vontobel’s spokesperson puts it in perspective. “Although I cannot and would not like to speak on behalf of Wealthsimple, please contact the company directly here. I can say so much that the figures you mentioned do not reflect the business for which Mr. Triebel was responsible.”
“The wealth management you cited represents only a small part of the business of the European and US units. Wealthsimple is much more positioned with its platforms and digital retail banking, B2B, among other things.”
Wealthsimple was considered a promising fintech that was supported by investors with around 180 million francs. In January of this year the company was sold.
There were 250,000 clients who had joined Wealthsimple in 5 years. That sounds like an impressive number.
With the assets Wealthsimple managed, the shine is fading. A good 4 billion client assets are on the lower end of what you would expect from a highly acclaimed fintech that wanted to bring asset management into the digital age.
“Wealthsimple was really dedicated to the retail business,” was the slogan of the January deal.
Tobias Triebel was probably looking for a job after the sale. Vontobel CEO Zeno Staub gave him the opportunity to become the bank’s new chief digital officer.
Staub praised Triebel as a “successful businessman” and accepted him into his Vontobel’s top operating committee.
The German is not, he has never built a large company himself, nor has he floated or sold it successfully.
Rather, the powder relies on a working hopper. Triebel once started at Goldman Sachs, but didn’t get very far in the hierarchy.
He then worked for the renowned American consultancy Alix Partners, where he left after a few months.
In 2014 he started at Spotcap. That was the name of a new adventure for wealthy investors who wanted to revolutionize lending to SMEs.
After 2 years, Triebel was already gone from the startup. At Vontobel, his time in fintech is still considered a success story.
“Finstar Financial Group entered the startup as a strategic investor (2016). In the course of the successful exit, Mr. Triebel left the company, ”explains the bank spokesperson.
“Spotcap’s success is also underlined by the fact that the company was included in the list of the top 50 global fintech innovators.”
Triebels’ numerous job changes were related to her age, the spokesperson says.
“Finally to Goldman Sachs International and Alixpartners. As mentioned in the press release, both stations fall after graduating at the beginning of the professional career. “
Here he took his first steps in his career with the corresponding promotions and gained a lot of professional experience ”.
