After a public listing on the London Stock Exchange in October, Mode appears to be starting to show its hand in its plans to be a “Bitcoin bank”.
Listed fintech group Mode has appointed Ryan Moore, one of its directors and principal investors, as its Chief Executive Officer (CEO).
Moore, who joins Mode from oil services company Baker Hughes, has been a member of the board at Mode and an early investor since the business was founded, according to a media statement.
He will be working closely with its founder Jonathan Rowland, one of the UK’s richest people, who will remain as chairman. Rowland is the son of a property tycoon David Rowland.
Mode’s plans in the fintech space are somewhat stealthy but originally were billed as a ‘Bitcoin bank’, allowing users to buy, sell and hold crypto assets. The FT’S Alphaville, however, poured some scorn on this title.
"Having closely worked with Jonathan and Mode's executive team since the company's founding, I have a deep understanding of Mode's strategy, successes and growth potential.
As CEO of Mode, my focus will be to execute on the day-to-day strategy, ensure organisational efficiency, attract and develop talent and, most importantly, deliver on our promise of building a disruptive financial services ecosystem enabled by Bitcoin and Open Banking."
Jonathan Rowland, Mode's chairman, said: "The global fintech sector is fast evolving and Mode is pioneering the development of a truly digitally-native financial services ecosystem."
Moore is a shareholder of Mode via Tulham LLC, in which he owns 50 per cent of the interests, and the Keve Family Ltd Partnership, in which the Mode says he and/or members of his family have shares.