As the digital wealth manager hits €4bn in assets, its focus is shifting to brokerage.
Dirk Urmoneit is joining from Solactive, where he spent three years as chief operating officer. Before that, he worked at Goldman Sachs as a managing director looking after trading exchange-traded products for the EMEA market.
Urmoneit will now guide Scalable’s growth, with a key focus on the fintech’s stock trading platform for German customers.
"Dirk is an expert in brokerage, trading platforms and investment products," said Erik Podzuweit, managing director and co-founder of Scalable, who emphasised the importance of brokerage in the fintech’s future.
Scalable currently has more than 250,000 customers and over €4bn in assets on the platform, up from €3bn just earlier this year in January.
"Scalable Capital is already performing well in brokerage—with a rapidly growing number of customers, a spot-on offering and an experienced team,” said Urmoneit on his appointment.
"I share the belief that technology-based investing should be accessible and affordable for everyone. As part of the team, I am looking forward to driving innovative ideas for the brokerage business, further developing the products on the platform and exploring new business areas."
In January, Scalable closed down its consumer offering for the UK market, refocusing its attention on Germany and Austria.
Existing UK customer accounts remain active, and the firm said no redundancies took place, but Scalable is closed to new UK signups.